Europe

Swedish truck manufacturer Scania has refinanced a €1.25bn multicurrency revolving credit facility, as the pipeline of Nordic loan refinancings slow, according to a senior banker in the region.

Swiss franc bond bankers expressed concerns this week that the Swiss National Bank will not be able to halt the rising value of the franc in the face of political uncertainty resulting from the result of the UK's referendum on European Union membership.

Clearing looks set to be one the first areas of London’s dominance as a financial centre to be challenged, following last week’s vote to leave the European Union, with uncertainty over the future of euro business putting pressure on central counterparties based in the UK to relocate their clearing operations elsewhere.

The IPO of Investis Group, the Swiss residential property company, is nearly complete after the pricing was revised on Tuesday to Sfr50-Sfr55, the lower end of the initial Sfr49-Sfr68 range.

European levloan investors snatched up Logoplaste’s €570m of acquisition loans, with many making reverse enquiries for the deal.

Just one bank was absent from French automotives parts manufacturer Faurecia’s amend and extend deal signed June 24.

Italy could soon inject much needed capital into its banking sector, but the new measures, planned in the wake of the UK's vote to leave the EU last week, must first get past EU state aid and bail-in laws.

Russia may benefit from UK’s vote to leave the EU as analysts suspect the resolve to maintain sanctions against the former may wain over coming months. Attention is now turning to the US presidential elections in November as another event that may corrode the West’s desire to keep sanctions.

Russian steelmarker Evraz plans to buy back what is left of its $600m of notes due 2017 it said on Wednesday.

Tuesday night's €815m block trade in Abertis shares for Obrascon Huarte Lain, the Spanish construction company, was a daring reopening of equity issuance after the UK's shock vote to leave the European Union. But despite the deal's success, it has been followed by surprisingly poor trading in OHL's shares and bonds.

Restructuring talks have further been delayed after holders of Far Eastern Shipping Company (Fesco)’s ruble denominated debt failed to agree to a waiver on Monday which would remove their right to claim early redemption of the notes by November 28.

Standard Chartered Bank has hired an executive director for its European corporate DCM team.