Europe

LCH, the London based global clearing house, has signed up Amundi as the first buy-side client for its CDS clearing operation.

Volkswagen’s first foray in the Eurobond markets since it was consumed by an emissions scandal in September 2015 may not produce a rousing comeback, as some investors say the rocky backdrop on Wednesday will be enough to keep books grounded while others are struggling to look past the company’s woes.

On Wednesday evening, Ontex Group, the Belgian maker of personal hygiene products, increased its equity capital by 10% through an accelerated bookbuild led by BNP Paribas and UBS.

The European Investment Bank and KfW on Wednesday tapped the long end amid an otherwise quiet euro market.

SNCF Réseau on Wednesday printed at the upper end of its size expectations with its second ever green bond, while the International Finance Corporation looked at the possibility of printing in the green format over the next three months.

Akbank closed a loan syndication on Wednesday with eight more banks joining the deal, taking the number involved to 38 and the refinancing to more than $1bn.

Japanese investors on the hunt for European SSA credit drove a flurry of long dated Australian dollar deals on Wednesday.

Another day, another €1.5bn of high yield bond offerings was what Tuesday’s deals from Aramark, Anglo American and Arrow meant for a European market awash with double-B rated paper. But too much of a good thing is putting off some traditional high yield buyers.

Turkey’s Turkiye Sinai Kalkinma Bankasi (TSKB) printed the first ever Basel III compliant sustainable tier two on Tuesday.

Halkbank became the latest Turkish bank to throw its hat into the tier two ring on Wednesday, announcing plans for a three day roadshow in the US and UK.

Investors were ready and willing to receive a new tier two from Mapfre on Wednesday, allowing the Spanish issuer to command tight pricing for the transaction despite a slight turnaround in market conditions.

Banque Fédérative du Crédit Mutuel (BFCM) shrugged off softer market conditions for a €500m no-grow tier two on Wednesday, choosing a smaller size and pulling pricing close to fair value.