Europe

Deutsche Bank made an encouraging return to the euro tier two market on Thursday, but the hefty spread on offer suggests investors are still wary about the credit.

The recent stabilisation of financial markets, following February's turmoil, has been good for some investors but not a positive for many trading in the options market.

Concern around Banco Popolare’s first quarter results sent its equity price plummeting on Tuesday, but the shares have since retraced some of their losses as the bank looks to make rapid progress on its planned merger and capital raise.

Singapore’s army of private bank accounts were spoilt for choice this week with a triple-whammy of bank capital transactions that suited them perfectly — an additional tier one from United Overseas Bank and tier two offerings from Société Générale and National Australia Bank.

Slovenia opened up the long end of the curve on Wednesday with a double tap to raise an additional €1.25bn from a €2.3bn book.

The UK’s LSL Property Services has extended its existing £100m credit line to May 2020.

German aircraft engine manufacturer MTU Aero Engines issued a €500m seven year convertible bond on Wednesday to refinance a previous vanilla bond more cheaply.

A successful listing of state-owned Hidroelectrica could serve as a catalyst for further sales of state-owned assets in Romania, investors believe.

Broadridge Financial Solutions, an operations and tech solutions firm, has added derivatives clearing to its post trade services by buying Dojima, another tech firm.

Spain showed that a 50 year euro benchmark is not just the preserve of core eurozone sovereign issuers on Wednesday and had plenty of leftover demand to suggest that Italy could follow with a half century bond of its own.

KfW is back in the green bond game, after mandating banks for what Dealogic data shows will be its longest dated deal in the format yet.

UK retailer Next on Wednesday issued a £300m bond, benefiting from a receptive period in the sterling corporate bond market, which is expected to wind down in June as the Brexit referendum approaches.