Europe

ICAP has named a head of post-trade product client development.

Arcus, the Norwegian distiller owned by private equity group Ratos, opened the books for its Nkr1.5bn ($188m) Oslo initial public offering on Monday and was covered at its maximum size by the afternoon.

Coventry Building Society has mandated leads for a roadshow ahead of a possible €500m seven year. The announcement follows further rates volatility and the withdrawal of most bids in the secondary market.

Discussions at the European Banking Authority’s public covered bond hearing on Friday centred on the triggers required to extend soft bullet or conditional pass through covered bonds. Regulators may need to set further conditions for soft bullet bonds issued by specialist banks.

Zimmer Biomet, the US orthopaedic reconstructive products producer, has mandated three banks to arrange its debut in the euro bond market, which may be a dual tranche transaction.

Michael Sherwood, co-CEO of Goldman Sachs International since 2005 and probably the most senior and highest profile investment banker in London, announced his retirement from the firm on Monday, after 30 years at the bank.

FMO is set to raise a minimum of Skr500m ($54.25m) with a seven year sustainability bond on Tuesday, while KfW plans to bring a dollar green bond.

Agence Française de Développement on Monday mandated banks for what is set to be the first euro benchmark from a public sector borrower in nearly a month.

The repricing trend in the leveraged loan market is continuing, undisturbed by the onset of new money offerings, with many of the latest deals cutting costs and underpinning large dividend recapitalisations.

The Financial Stability Board made seven changes to its list of global systemically important banks (G-SIBs) on Monday, altering the levels of capital some large financial institutions will have to hold.

The European Commission will propose on Tuesday a package of measures to make the reporting and disclosure requirements for banks more 'proportional', meaning easier for smaller institutions to comply with the rules.

FIG supply could slow to a halt before Thanksgiving this year, as bank issuers grapple with a rapidly shifting backdrop in politics and financial markets.