Europe

LBBW has priced the largest Pfandbrief in dollars since October 2013 with a comfortably oversubscribed order book, one of the most granular in years for a German covered bond in dollars.

The Spanish sovereign launched a €9bn 10 year on Tuesday, bringing the largest eurozone sovereign syndication so far this year.

Investors were clamouring this week to get hold of Credit Suisse’s first dollar additional tier one in more than two and a half years, as the Swiss lender raised $1.5bn of new capital shortly after agreeing to pay $5.3bn to settle a civil lawsuit in the US.

France surpassed the expectations of even the most passionate supporters of the green bond market on Tuesday, selling comfortably the largest ever print in the format. Socially responsible investment (SRI) experts believe the deal makes it almost certain that other sovereign issuers will add green bonds to their funding mix.

Wells Fargo may have lifted the lid on a flurry of US senior trades in euros this week, opting for a rare but popular floating rate bond to become the first of the nation’s banks to head to Europe after reporting its results.

Emerging markets investors had piled $1bn of orders into Kernel’s five year dollar bond by lunchtime on Tuesday. The deal is their first opportunity since 2013 to buy fresh debt from Ukraine.

Obrascón Huarte Lain, the Spanish construction company, sold a 1.84% stake in Abertis, the Spanish toll roads group, through an accelerated bookbuild launched on Monday evening that was covered very quickly after launch and priced with no discount to the close.

TP Icap, the interdealer brokerage arising from the recently merged Tullett Prebon and Icap, has made its first senior hire of the year, to replace chief operating officer Ken Pigaga, who is leaving.

Two more European sovereigns have hit screens with 10 year euro mandates, hoping to enjoy the same success that Portugal and Belgium with their deals at the 10 year range this year.

With the euro primary market to itself, Germany’s largest telecommunications provider announced a €3.5bn triple tranche bond deal on Monday morning, luring investors to the long end of its offering.

The Agence France Trésor has announced the maturity date for the first ever French sovereign green bond, which could be priced this week.

Sky Bet, the UK gaming company owned by private equity firm CVC, has informed investors that it is planning to cut margins on its existing term loan.