Europe

The French bank’s recent changes to its equity capital markets division show it is serious about growing its European ECM business outside France, writes David Rothnie.

Eika Boligkreditt showed it was immune to any concern over a possible Norwegian house price correction, as it priced a €500m seven year covered bond on Thursday flat to its curve.

Latvia is on course to become the first Baltic state to tap the 30 year maturity after emerging with pricing on a dual tranche euro deal.

GlobalCapital revealed the winners of its Syndicated Loan, Leveraged Finance and Private Placement Awards 2016 at its 14th Annual Loans Dinner on February 8.

Russian aluminium producer Rusal has registered a prospectus on the Shanghai Stock Exchange for a Rmb10bn ($1.5bn) seven year Panda bond programme, the company said on Wednesday.

Consumer goods company Unilever priced a €1.2bn dual tranche bond on Wednesday that came partially inside the French government curve, as investors scrabble for perceived haven assets amid sharply deteriorating market sentiment.

Budget airline Ryanair slipped into the market to print a €750m August 2023 bond on Wednesday, taking advantage of an almost clear run as many issuers are still on earnings reporting blackouts. Meanwhile, two other corporate credits are about to meet investors.

Silgan Holdings, a maker of consumer goods packaging in the US, this week priced the first cross-border high yield deal of 2017 as it plans to repay term loans.

Finland launched its first ever dual tranche deal on Wednesday, scoring €3bn with a five year leg and €1.5bn at 30 years. The issue comes on the heels of an immensely popular Belgian barbell printed on Tuesday.

The Autonomous Community of Madrid launched its largest syndication in two years on Wednesday, in spite of difficult conditions in the euro market.

Bank Nederlandse Gemeenten showed that investors in its dollar bonds are not overly concerned about an upcoming Dutch general election, as it priced a bond on Wednesday that was just $250m short of its record size in the currency. More public sector dollar supply is set for Thursday, after Asian Development Bank hired banks for a five year global benchmark.

Detsky Mir, the Russian toy retailer, this week priced its Rb18.4bn ($311m) Moscow IPO, the first IPO of significant size to be completed this year in EMEA.