Europe

One of Nordea’s Stockholm-based co-heads of debt capital markets is said to have stepped down from the post.

The covered bond primary market was kept busy this week as a trio of German banks supplied the market in euros and dollars across a range of maturities.

Italian gaming operator Sisal priced the all-bond funding of its buyout by CVC Capital Partners on Thursday, and brought to life a high yield market still stunned by the Brexit vote.

nanoFlowcell, a European tech firm focussed on energy-storage solutions and electric cars, is considering listing on the London Stock Exchange, the company said in a statement on Thursday.

The conditional pass through (CPT) covered bonds issued by Aegon Bank should trade tighter than other Dutch CPTs, say analysts at Commerzbank research. Bankers say all CPT Dutch bonds should perform, as they are one of a few in core Europe that still offer a positive spread to mid-swaps.

Lenders are still keen to underwrite sterling loans after the UK’s Brexit vote — as shown in Steinhoff’s £452m deal — said one head of Emea loan syndicate.

Tencent is sounding out banks for yet another multibillion dollar borrowing, this time to back its acquisition of mobile game maker Supercell. The Chinese technology company is used to getting an easy ride in the loan market, where it has raised $6.89bn since December. But the structure for the latest deal means it will have to pay up to lure banks, writes Shruti Chaturvedi.

Croatia’s Zagrebački Holding completed a buy-back of nearly half of its outstanding Eurobonds on Thursday.

Monte dei Paschi di Siena could be left with a capital shortfall of €4bn if it completes a sale of non-performing loans to Fondo Atlante.

Macedonia was on track to price the first euro-denominated bond from CEEMEA since the UK referendum on June 23 on Thursday morning.

UniCredit used similar tactics on its accelerated bookbuild sale of 10% of Bank Pekao on Tuesday night to those it had used for Monday’s sale of FinecoBank — and achieved a similar result: multiple times oversubscription, led by one very large anchor order.

Agence Française de Développement hit the sweet spot for supply-starved, yield-hungry investors on Wednesday with a 10 year euro benchmark.