Europe

Russian Railways successfully revived the Eurorouble format on Friday with a well received seven year deal.

ConvaTec, the UK medical supplies company, has announced plans for an IPO of at least $1.8bn (£1.4bn) on the London Stock Exchange this autumn in an intention-to-float document issued on Monday morning.

Bank of America Merrill Lynch has hired a senior high yield bond trader to its team in London, who will join the bank's European credit flow business in November.

Banks showed a clear preference for dollar-denominated primary issuance in the third quarter, as the euro market grappled with heightened volatility.

UK waste management company Shanks has agreed a €600m facility for its €482m acquisition of Dutch competitor Van Gansewinkel Group.

In a first for the Russian loan market since EU and US sanctions were imposed on the country, a borrower has agreed an unsecured dollar loan. Norilsk Nickel has signed a $500m deal from five lenders.

GE Capital has completed the first sell-down of shares in Moneta Money Bank, the Czech commercial lender, since its Ck20bn (€739m) Prague IPO in May.

ICE Clear Credit, the credit derivatives clearing unit of Intercontinental Exchange, has been recognised as a third-country (non-EU) central counterparty (CCP) under European rules.

This week's scorecard looks at the progress French agencies have made with their funding as we move into the fourth quarter

When Standard & Poor’s (S&P) downgraded Poland from A- to BBB+ on January 15th, it was not just the Polish authorities that were astonished by the announcement. According to the Ministry of Finance’s website, which described the rating action as “incomprehensible”, a Reuters survey published the previous day suggested that fewer than one in three investors expected a downgrade. Among other agencies, this year Moody’s has revised its rating on Poland from stable to negative, while Fitch has left its stable rating unchanged

It is only a year since our last report in GlobalCapital was published, but so much has changed. Our country has opened a completely new chapter. Different ideas, opportunities, and challenges. Different standards that are set higher, targets that are more ambitious. And the world itself has changed substantially. Paradoxically, the world we are chasing appears to be rather fragile.

Piotr J Szpunar joined Poland’s central bank, Narodowy Bank Polski, in 1995 and became deputy head of the macroeconomics department in 2002. In 2007, he was appointed head of the financial system department, and he now serves as advisor to Adam Glapiński, who replaced Marek Belka as governor in June. In this interview with GlobalCapital’s Phil Moore, Szpunar shares his thoughts on the prospects for Poland’s economy and monetary policy, as well as on the outlook for the banking system.