Europe

Italy joined the ultra-long borrower club on Tuesday, attracting more than €18.5bn of demand for its first ever 50 year syndication.

BNP Paribas reshuffled some of the most senior executives at its corporate and institutional bank as it looks to boost cooperation between the business and its risk management division.

Flemish Community made its euro benchmark debut on Tuesday with a €1.25bn dual tranche Reg S deal.

A combination of lingering caution over intraday volatility and earnings blackouts held back corporate bond primary activity on Tuesday, despite improving market conditions.

HSBC has hired a market veteran as head of European investment grade corporate credit trading, bringing back trader who has been absent from the market for three years.

BNP Paribas Investment Partners has launched a €500m direct lending fund which offers longer dated institutional loans alongside bank loans to small and medium sized European companies.

France’s sustainable and responsible investor base is notably more developed than those in many other leading economies. The country’s government is preparing to launch its first green bond. But the biggest change will come as French asset owners implement the new Article 173 law on disclosing their climate exposure, reports Julian Lewis.

New York-headquartered Multi Packaging Solutions allocated its multi-currency term loan refinancing late on Tuesday afternoon, with several more deals scheduled to have followed this week.

Kommuninvest has selected banks for a bond expected to break the size record for green bonds denominated in Swedish krona.

The Spanish bank has mandated leads for a roadshow to market what will be its first covered bond in six years.

Russia’s Norilsk Nickel has signed a $500m new money loan from five lenders, a deal which could set a precedent for Russian companies borrowing in the shadow of financial sanctions. However, tough operating conditions remain for the firm.

Otkritie Bank took advantage of surging demand for Russian hard currency bonds on Tuesday to come to market with a long awaited dollar Reg S senior unsecured deal.