Europe

Mapfre will sell a new tier two bond this week, joining a growing pipeline of subordinated deals as it looks to replace an old bond approaching its first call date.

Turkey’s Turkiye Sinai Kalkinma Bankasi (TSKB) made a second pioneering move into the sustainable bond market with the world’s first sustainable tier two bond on Tuesday, following on from a senior green bond last year.

Danske Bank was looking to raise $750m of new capital in its first equity conversion additional tier one (AT1) on Tuesday, as it dipped into a huge pool of demand in the Reg S market.

Private equity firm Ardian has acquired a majority stake in Prosol Group, the parent company of Grand Frais, the French supermarket company.

The Netherlands' Achmea Bank is looking to raise funds in the Swiss franc bond market in the near future, having mandated three banks to take it on a roadshow next week.

French utility Veolia Environnement’s €1.3bn dual tranche trade on Monday showed that power is still with corporate borrowers, despite grumbling from investors last week that spreads have been tightening too much during primary market execution.

Euronext today agreed to a strategic partnership with Morningstar which will bring new indices and derivatives contracts to the pan-European exchange within two weeks.

Spearhead International, a central and eastern Europe based agriculture company, has signed its first syndicated loan for €167m.

Nederlandse Waterschapsbank has become the latest in a string of public sector borrowers to turn to the sterling market.

Buoyed by relief following a Dutch election in which Eurosceptic Geert Wilders’ hopes of forming a government were dashed, public sector borrowers are flocking back to capital markets.

John Laing Infrastructure Fund, the FTSE 250-listed closed end investment fund, is raising £122m through a capital increase led by JP Morgan to reduce its debt after investing in over 60 projects since its creation in 2010.

A pair of public sector borrowers are set to bring socially responsible bonds this week, with one aiming at the dollar short end and the other at the long end of the euro curve.