Europe

Investor AB, a Swedish industrial holding company, has signed a new five year plus one plus one revolving credit facility for a capped size of Skr10bn ($1.13bn).

Spanish and French covered bonds were well supported on Monday with further buying reported following demand seen last week. With only one Spanish Cédulas seen so far this year, the market should be receptive to more supply.

LBBW has mandated leads for its first dollar covered bond benchmark of the year. The public sector-backed Reg S transaction is expected to be launched in the near future.

Discount retailer B&M will launch on Tuesday its £250m debut high yield bond in a so far ‘hard Brexit’-proof sterling market — but some investors are already warning about a potential glut of supply.

Russian Eurobond volumes will be higher in 2017 as corporate borrowers rush to take advantage of strong investor demand amid expectations that the US will soften its stance on sanctions towards Russia, say Russian bankers.

Deutsche Pfandbriefbank raised €500m of new funding on Monday as the FIG primary market made a quiet start to the week, but bankers contemplated whether visits from US banks could boost volumes during the height of reporting season.

Akbank is set to provide the loan market’s first gauge this year of appetite for Turkish risk, with the bank said to have opened talks with lenders about the first of its two annual refinancings.

A $120.6m borrowing to support a recent acquisition by Indian company Tata AutoComp Systems has launched into general syndication.

The Trump presidency begins without China being labelled a currency manipulator, RMB keeps strengthening against the dollar, and the State Administration of Foreign Exchange emphasizes stability over reform.

Shares in French voucher provider Edenred closed 1.6% lower on Friday after Colday, a vehicle for Colony Capital, turned to the blocks market on Thursday evening to sell a residual 5.7% of the company.

Christian Hansen, head of equity capital markets Denmark at Nordea, has left the bank on Thursday this week, in order to join Danske Bank in the summer.

The European high yield bond market priced on Friday its third deal listing on the Channel Islands this year, a £425m bond to finance NewDay’s acquisition by Cinven and CVC.