Europe

The Dutch covered bond issuer, Van Lanschot Bankiers has mandated leads for the first 10 year covered bond in nearly a month and the first Dutch conditional pass through (CPT) since May 2016. The deal emerges following a Fitch survey suggesting investors would like to see price differentiation between soft bullet and CPT maturities.

Agence Française de Développement (AFD) has pulled a three year dollar deal that was expected to be priced today.

French banks are expected to look closely at opportunities for issuance in the coming month, senior non-preferred bonds have started widening on the back of fresh election jitters in Europe, and opportunities could be limited as the French vote draws nearer.

Investors wasted no time posting orders for Sparebank Vest Boligkreditt’s covered bond issued on Tuesday, a deal which ticked all the right boxes for maturity and spread, despite concerns from Moody's about the sustainability of Norwegian house prices.

CaixaBank comfortably raised €1bn of new tier two capital on Tuesday, despite signs that executing trades could start to grow trickier in February.

UniCredit has named the bankers to fill a series of senior country posts in its financing and advisory business, which covers equity and debt origination, coverage and M&A.

The Brexit process and the further opening of the Chinese capital markets are pushing Luxembourg fund managers to sharpen their focus on China, Marc-Andre Bechet, director of legal and tax, Association of the Luxembourg Fund Industry (Alfi), told GlobalRMB.

The market for public sector euro issuers is springing back to life after a quiet week, with two benchmarks printed on Monday and a sovereign dual tranche expected on Tuesday. But although traffic is returning, conditions are no longer as supportive as in January.

Sweden’s Molnlycke got in early this week with a €500m eight year trade, as bond bankers said that the euro market is ready to ramp up again in the coming days.

Logoplaste, the Portuguese plastic packaging maker, boarded the loan market's runaway repricing train on Monday, completing a request on four different tranches amid several similar deals.

The public sector dollar market looks set to pick up the pace of a record breaking January after last week’s slowdown in issuance, with two borrowers on screen for Tuesday business at press time on Monday and more issuance expected later in the week.

Detsky Mir, the Russian toy retailer, has revised the price range for its Rb21.1bn ($350m) Moscow IPO to Rb85 to Rb90 a share, the bottom end of the initial Rb85 to Rb105 range.