Europe

As the end of 2016 approaches, borrowers are turning to the green market for their remaining funding, with a pair of SSA borrowers returning to the syndicated market for socially responsible investment products on Thursday.

The European Central Bank’s politicised decision to allow bail-inable German senior unsecured debt to be eligible for repo, whilst denying the same rights for everyone else, is untenable.

Cable company Com Hem has been sounding investors since Wednesday for a new issue in Swedish krona to redeem its old Skr2.5bn bonds due 2019, adding Swedish momentum to the Nordic corporate high yield bond market.

Croatian food and drinks maker Agrokor has refinanced €340m of loans from VTB Bank, marking the end of a €840m loan refinancing programme.

Addressing the nation on television in November 1967, British prime minister Harold Wilson announced the devaluation of the pound and famously declared that "it does not mean that the pound here in Britain, in your pocket, has been devalued."

Private equity firm Permira has made a “significant” investment in corporate services provider Alter Domus, which counts nine of the largest 10 PE firms worldwide among its clients.

Sp Mortgage Bank, which is the central bank for Finnish savings banks, has mandated joint leads for a European roadshow to market its first covered bond.

Eight lenders joined the four lead banks in syndication of the loan for International Bank of Azerbaijan, which grew beyond $200m in syndication.

Sampo’s was looking to raise €750m of new senior unsecured debt on Thursday, swiftly reopening the FIG market following Donald Trump’s surprisevictory in the US presidential election.

UK banks will be allowed to use one year call structures to optimise the capital eligibility of their senior bonds, after the Bank of England published new rules governing the minimum requirement for own funds and eligible liabilities (MREL).

The EM primary bond market took just one day to digest Donald Trump’s unexpected ascent to the US presidency before new issuance resumed with a Gazprom bond. That was far quicker than the seven days it took the market to reopen after the Brexit vote on June 23.

US and European equity investors have reacted with a degree of equanimity to Donald Trump’s capture of the White House, fastening on to the idea that he is likely to stimulate the US economy with deficit spending.