Europe

Veolia Environnement became the first French company and only the second European corporate to issue a Panda bond, raising Rmb1bn ($150m) this month with a privately placed note.

Ukrainian food oil producer Kernel received oversubscription of about 40% in its latest $300m pre-export finance facility but chose to keep the loan at the target size.

Axa was set to become the latest in a series of insurers selling tier two debt fixed-for-life coupons, after it launched a perpetual non-call 5.5 year into the Reg S dollar market on Thursday.

National Australia Bank will give investors the chance to buy into Clydesdale additional tier one and tier two debt, having mandated banks for a roadshow next week.

One or two covered bonds could be seen early next week before the European Covered Bond Council’s (ECBC) plenary meeting and the Euromoney covered bond conference. The market on Thursday, however, was waiting for the European Central Bank meeting amid hopes that the central bank will announce further stimulus measures.

PartnerRe Ireland Finance slipped in to sell 10 year debt ahead of the European Central Bank’s latest announcement, as the recent boom in insurance trades reached euros.

A group of lenders are working on a long term loan for the privatisation of 14 Greek airports. Greece’s Alpha Bank is the advisor for the financing, which includes a €820m clip, according to a banker close to the deal.

Croatian food and pharmaceutical producer Podravka has agreed a €123m loan with the support of the European Bank for Reconstruction and Development.

Landsbankinn became only the second Icelandic bank to sell a benchmark deal in euros on Thursday, following a €500m four year trade from Islandsbanki last week.

Two UK property companies have launched equity raises to finance growth in the last week, despite fears of a downturn in the sector following the UK’s Brexit vote.

Ineos-owned styrene manufacturer Styrolution launched a €1.1bn term loan with a lender call on Wednesday, following R&R Ice Cream in re-awakening the market and inviting further deals.

Crédit Agricole CIB plans to restart its equity derivatives business, and start issuing structured notes with equity underlyings, according to the bank’s head of global markets. The bank sold a €12.5bn notional equity derivatives book to BNP Paribas in 2013, but now plans to get back into the business through its new “Equity Solutions” division.