Europe

Interest built slowly for a tightly priced €1bn tier two from BBVA on Thursday, as bankers pointed towards growing caution among investors.

DVB Bank returned to the senior market for a second time this year, taking advantage of growing investor appetite for floating rate notes.

Russia’s largest privately owned bank has mandated banks for a rouble Eurobond of up to five years.

Shares in UniCredit, Italy’s largest bank, closed 1.7% lower on Thursday after it unveiled the terms for its fully underwritten €13bn recapitalisation late on Wednesday.

BC Partners, the private equity firm, has hired a new managing partner from outside the company.

A euro deal is imminent for India’s Motherson Sumi Systems (MSSL) as it completes its acquisition of Finland’s PKC Group.

The vibrant activity in the equity block trade market this week is continuing tonight, with three more selldowns of stock in European companies, including the last sale of stock in Worldpay, the UK payments group, by Advent International and Bain Capital, for about £600m.

The IPO of Detsky Mir, Russia's largest toy retailer, is covered. It is set to be priced on Tuesday.

Asian Development Bank's first euro syndication in three years enjoyed only tepid success on Wednesday, as observers wondered if the 20 year trade was fully subscribed.

Natixis has added another banker to its bond syndicate desk in Paris, to cover corporate bonds.

Akbank has made a bullish return to the international syndicated loan market, going beyond its usual one year tenor refinancing, despite the difficulties Turkish borrowers have had recently in obtaining longer dated loans. But the deal confirms that pricing levels have changed markedly in the past six months, said bankers.

The European high yield market may not be as bleak for issuance volumes as previously thought following a stellar start to the year, according to market participants.