Europe

Cinven has made the first acquisition from its latest €7bn European focused fund for US healthcare firm Bioclinica.

Barclays on Tuesday announced an additional tier one trade in dollars, taking advantage of an empty despite strong conditions. The deal is expected to be priced on Wednesday.

América Móvil, the Mexican telecoms group controlled by Carlos Slim, has reduced its stake in Austrian communications provider Telekom Austria by 0.89%, in a trade that fulfils a promise made to the Austrian government two years ago to reduce its stake in the company to no more than 51%.

UniCredit in Italy has mandated leads for the fourth 10 year covered bond of the week, but unlike the others it will offer a double digit return over mid swaps.

Deutsche Bank is set to issue the third German Pfandbrief of the week after mandating leads for an ultra-long benchmark. Meanwhile, Deutsche Pfandbriefbank (PBB) has priced the fifth dollar Pfandbrief of the year.

Sparebank 1 Boligkreditt on Tuesday followed Commerzbank into the covered bond market. By coming 20bp back of Commerz, the Norwegian sale was much smoother.

Oberbank, the Austrian regional lender, is considering a €100m rights issue in the fourth quarter to strengthen its balance sheet and finance its plans for expansion and earnings growth, the company said this week.

Just over a month has passed since the attempted coup in Turkey. With a backlog of issuance from the country sitting in the pipeline, GlobalCapital discussed the investment case with four London-based fund managers.

General syndication for a $12.7bn loan to back China National Chemical Corp’s acquisition of Swiss biotech firm Syngenta is set to wrap up.

The European corporate bond buyside sees moving into single-B and lower credits as the least preferable way to add yield, based on figures in Bank of America Merrill Lynch’s August credit investor survey.

Singapore Exchange (SGX) and the Baltic Exchange have agreed terms for a recommended share offer as the Asian company looks to proceed with a proposed acquisition.

Atlas, the Swedish industrial machinery maker, on Monday launched a €500m 10 year note, the first bond roadshow by a Nordic corporate borrower in three months.