Europe

Insurers NN Group and Axa tested investors’ appetite for insurance subordinated debt on Tuesday, finding plenty of demand in only the second week of the year.

Barclays opened the sterling market for bank senior debt for the first time in 2017, bringing in more loss-absorbing debt amid growing concerns around a ‘hard Brexit’.

BPCE raised its first €1bn of senior non-preferred notes in euros on Tuesday, joining France’s three other global systemically important bank in the fledgling market.

Mediobanca and Santander Consumer Finance joined a growing list of bank printing vanilla senior trades on Tuesday, as investors continued to show strong appetite for the undersupplied financial instruments.

Erste Bank adopted a cautious pricing approach with its €750m 10 year Austrian Pfandbrief, which was priced on Tuesday when there was no other competing covered bond supply.

Following the tragic death of Romain Etienne last week, his family welcomes all friends and colleagues that want to attend his funeral.

CME Europe is consulting with the derivatives market, having proposed to overhaul its exchange rulebook following reauthorisation under the European Markets Infrastructure Regulation (EMIR).

KommuneKredit and Unédic have both pulled off strong trades, getting in ahead of what is expected to be a busy week in euros by coming to market on Monday.

The Nordic Investment Bank and Rentenbank brought sterling deals on Monday, adding to a busy start to the year for a market that has retained stability despite currency fluctuations around the latest speculation on Brexit.

Tuesday’s dollar market is set to be packed to the rafters, with a quartet of issuers out with trades and most of the focus at the five year part of the curve.

Tikehau Capital, the asset manager, is seeking a listing on Euronext Paris via a tender offer for the shares and convertible bonds of its listed subsidiary Salvepar.

Following a non-deal roadshow in December, Italian electricity and gas distributor Enel sold investors a €1.25bn seven year deal on Monday as it made its debut in the green bond market.