Europe
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Bekaert, the Belgian maker of steel wire products, launched a €380m convertible bond on Thursday, happening to choose the same day as BP to launch its deal, after a long quiet period in the market.
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Romania was on track to printed a €1bn 12 year euro-denominated note with a 10bp new issue premium in less than ideal market conditions on Thursday. -
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This week’s steady run of one equity block trade a night in the European market continued on Thursday with the biggest deal so far, as Bpifrance, the French state investment fund, launched a €500m sale of more than half its holding in Eiffage, the construction and concessions group.
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Landesbank Baden-Württemberg has issued the first European covered bond denominated in dollars this year, boding well for further supply from European banks in the currency.
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The Boston Retirement System (BRS) is suing five banks and four traders for allegedly conspiring to manipulate bid-ask spreads on SSA debt traded in the secondary market, increasing their profit at the expense of their clients.
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Caja Rural de Castilla-La Mancha this week issued the first Cédulas in more than two months and swept aside concerns that peripheral issuers would need to pay lavish new issue concessions.
