Europe

Dentressangle Initiatives is seeking €276m of loans to fund its acquisition of Tessi, the French provider of data processing services, which it also plans to delist.

Waste Italia, the Italian disposal and recycling company, has requested a standstill from investors in its €200m high yield bond, after missing a coupon payment on it in May.

Several Russian companies are considering issuing Eurobonds following the successful placement of nearly $2bn of corporate paper from the country this month, according to analysts.

From a regulatory standpoint the spread level of UK covered bonds suggests a UK exit from the European Union has been priced in. However, given uncertainty over how the process of leaving the Union would be finally completed, it is likely UK bonds will remain unloved.

FIG spreads failed to grind tighter again on Tuesday, as investors remained nervous about the result of the UK’s referendum on EU membership this Thursday.

The Panda bond market has been gaining plenty of attention ever since the asset class rebooted last year with many issuers eyeing it as a good opportunity to tap into the Chinese investor base. Looking to join the club is Poland, although the country has little need for renminbi and will be swapping the proceeds back into euros.

Barclays has made several senior appointments to its Asia Pacific and EMEA syndicate teams, combining its bond and loan platforms.

Investis Group, the Swiss residential property company, opened books for its IPO at lunchtime on Monday, hoping to raise Sfr150m to Sfr183m.

Enav, the Italian air traffic control system company, began its privatisation IPO on Monday, with the publication of research. Meanwhile, plans are taking shape for the IPO of Avio, the Italian space propulsion firm.

The €145m of loan facilities to support the purchase of German jewellery maker Amor from 3i by Gilde Buy Out Partners enjoyed a good reception, in line with latest deals in the market.

Barclays has restructured a book of controversial local authority and housing association loans to waive its rights to amend the interest rates on the loans at given periods.

Spanish broadcasting infrastructure operator Cellnex Telecom, which finished a roadshow last week, is biding its time before bringing a deal to market, in anticipation of volatility in the coming days.