Europe

BNP Paribas served up its first green bond for Thanksgiving on Thursday, as Arion Bank joined the mini feast to price its longest dated issue.

James Garvey, who runs the capital markets businesses at Lloyds, will take over the trading side as well, as the bank's existing head of financial markets, Richard Moore, plans to leave the firm next year.

Four banks will lead the financing for the €533m acquisition of Romanian retail chain Profi, the largest private equity acquisition ever in Romania.

The European Commission handed investors in additional tier one (AT1) a boost this week when it gave explicit preference to payment of coupons on the paper over dividend payments and bonus accruals.

Emerging markets bond bankers were keeping upbeat on Thursday about the prospects for further issuance from CEEMEA this year, despite the failure of one of the few deals in the pipeline to emerge as expected.

Shares in Brammer, the UK industrial parts distributor, closed 72% higher on Wednesday after the company agreed terms of a buyout with Advent International, removing the need for a £100m emergency rights issue if the takeover is accepted by the company’s shareholders.

Capitalab, part of BGC Partners, has extended the compression service it operates to FX options as well as interest rate caps and floors.

Shares in Petroleum Geo-Services, the Norwegian oilfield surveyor, closed 10% higher on Wednesday after the company completed a Nkr1.9bn ($225m) capital increase overnight, to strengthen its balance sheet.

One month after failing to attract high yield investors for a sterling offering, UK telecom services supplier Daisy Group has successfully placed a PIK note with one lender.

Adecco and ASML won single digit new issue premiums on a positive day in the corporate bond market on Wednesday, but both issuers’ order books dropped when they tightened pricing.

The UK Debt Management Office will have to raise an additional £20.6bn this financial year, including an extra syndication, following the announcement of the government’s borrowing plans in Wednesday’s autumn statement by chancellor of the exchequer, Philip Hammond.

After defence stocks emerged as a winning sector after Donald Trump’s victory in the US presidential election on November 9, the French government took the opportunity on Tuesday night to sell a 1.39% stake in Safran, the French aerospace and defence group, for €365m.