Europe

Investors’ thirst for stock in Dassault Aviation, the maker of Mirage and Rafale fighter jets, was evident last March when Airbus sold €1.76bn of it in a block trade. It was clear again on Thursday night when Airbus launched a two-pronged monetisation of its entire remaining 23.6% stake.

Basic-Fit, the low cost gym group, made its debut on Euronext Amsterdam on Friday morning, after an IPO that was priced towards the bottom end of its range on Wednesday.

Time Out Group, the UK lifestyle and culture magazine publisher, has priced its £90m IPO on the London Aim.

The IPO of ASR Nederland, the second biggest this year in Europe after that of Dong Energy, reached a successful conclusion one day later than Dong’s, when the stock rose 2.6% on its first day of trading on Friday.

The former head of corporate debt capital markets at Rabobank has been promoted to head of capital markets — leaving positions open, which could include head of syndicated loans.

French glass packaging maker Verallia plans to sell the second largest single-B rated tranche of the year on Monday, after a pumping week of high yield issuance.

French retailer Fnac is assigning allocations to the 17 banks that joined its €1.35bn loan in syndication, with another lender added to the deal this week.

Sovcomflot, Evraz and NLMK issued nearly $2bn of bonds between them this week, and strong demand, especially from local investors, led to dramatic price tightening.

The 10 year Bund yield came within a whisker of negative territory this week. While that may be seen as the complete breakdown of everything you ever thought you knew about bonds, for one closely related branch of issuers it represents a golden age.

Dong Energy’s IPO, the biggest in Europe so far this year, achieved a strong result, both in its bookbuild, which raised Dkr17.1bn ($2.6bn), and on its first day of trading on Thursday, when the shares jumped 10%.

One of the cases pro-EU UK politicians make, at least to City officials, against Brexit is that the whole of post-crisis regulation would have to be rewritten from scratch, leaving banks facing years more uncertainty.

Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany