Europe

Czech software security firm Avast had commitments due on its $1.6bn equivalent six year term loan package, following a notable price tightening, on Tuesday, yet market participants remain sceptical about the broader tech sector's trajectory in European levfin.

Advent International this week sold a second chunk of its stake in Equiniti Group, the British payments firm, after the company posted positive half year earnings on Friday.

BayernLB successfully issued a $300m Pfandbrief at a tighter spread than it could have achieved in euros. It follows a privately placed sterling Obbligazioni Bancarie Garantite (OBG) issued by Banca Popolare dell'Emilia Romagna (BPER).

The trading and marketing arm of Azeri oil firm Socar is refinancing the $150m loan it signed last year, with ING and Rabobank as bookrunning mandated lead arrangers.

Santander brought UK bank debt back in front of dollar market investors on Monday, and bankers are confident more FIG borrowers will capitalise on strong demand to beat the rush in September.

Finnish crane manufacturer Konecranes has signed €1.5bn of loan facilities for its revised agreement to purchase a unit of US firm Terex.

The Employees Provident Fund (EPF) of Malaysia is making a rapid return to the loan market, mandating two lenders for a £240m ($317m) new money trade.

Banca Monte dei Paschi di Siena will try to raise €5bn of capital by completing its fifth rights issue in eight years by the end of 2016.

Mizuho Financial Group is to establish a consolidated vanilla derivatives platform in London by combining Mizuho Capital Markets, a derivatives business, with Mizuho International, its securities and investment banking arm.

The German State of Brandenburg is set to double the record for its longest ever syndication, after hiring banks on Monday for a no-grow €300m 20 year bond.

A pair of public sector borrowers mandated banks on Monday to run small taps of dollar bonds, a theme that SSA bankers expect to run for the next few weeks.

Just one week after it issued a €1bn 15 year bond in the euro market, Vodafone swooped for sterling on Monday issuing an £800m 33 year bond.