Europe

The Bank of Portugal is now expected to decide in September whether it will sell Novo Banco to a private bidder, or place its shares with a wider group of institutional investors.

European investment grade corporate bond investors are poised napkins tucked in, cutlery at the ready, as the reception this week for Vodafone’s €1bn 15 year trade and Heathrow’s £400m 33 year notes showed forcefully. It is unlikely there will be many more courses to follow.

The house cleaning started by UniCredit’s new broom, Jean-Pierre Mustier, has thrown up a new IPO prospect: Pioneer Investments, the firm's asset management business, which it had been negotiating to merge with Santander Asset Management.

Clearstream is looking to better connect global investors to China’s interbank bond market (CIBM) with a link set to launch in October. The firm is also working on a joint venture (JV) with the China Foreign Exchange Trading System (CFETS) to launch a bond exchange in Europe, GlobalRMB has learned.

Shares in Enav, the Italian state air traffic control operator, closed 11% higher on their first day of trading on the Milan Stock Exchange today.

BC Partners sold a 7.8% stake in Com Hem, the Swedish cable TV operator and broadband provider, through an accelerated bookbuild led by Morgan Stanley on Monday night.

Deutsche Börse has narrowly achieved the required votes from its shareholders to approve its merger with the London Stock Exchange Group, meaning only the possible objections of regulators now stand in the deal's way.

A string of dollar issuance from public sector borrowers is set to extend into Wednesday, as Belgium mandated in the currency following a pair of deals from an agency and a supranational.

The Gilt market on Tuesday once again highlighted its immunity to concerns around the UK's vote to leave the EU, as the Debt Management Office conducted a trademark smooth execution with a tap of its 0.125% November 2065 inflation-linked bond.

Bank operational risk is a perfect example of how good intentions can lead to strange conclusions. Commerzbank on Tuesday showed just how bizarre the rules have become.

Heathrow Airport came out of its earnings blackout to issue a benchmark 33 year sterling bond from its secured funding programme on Tuesday, clinching a minimal new issue premium.

Vodafone paid its second trip to the European corporate bond market in a year on Tuesday, issuing a €1bn 15 year deal and entertaining the possibility of a 30 year trade.