Europe

Uncertainty regarding the outcome of the US Federal Open Market Committee’s (FOMC) meeting in June drove public sector borrowers to target the short end of the dollar curve this week, said bankers.

Nexity, the French property developer, was able to increase the size of its second convertible bond issue on Tuesday, as existing investors eagerly bought into the new deal.

By 2018, the European Commission will review the resolution directive that came into effect at the start of this year. In light of Italian banks’ recent struggles, maybe it's already time for a rethink.

Slovenia is planning to tap its euro Reg S 2.125% 2025s and 2.25% 2032s to fund its dollar bond buy-back.

Credit Suisse booked its second straight quarterly loss, but beat investor expectations with a win in its wealth management units — the centrepiece of the bank’s turnaround strategy.

Spain has nipped in ahead of its eurozone periphery peer Italy, mandating banks for a debut 50 year euro benchmark on the same day that the Community of Madrid had a strong showing at the short end and Greek yields rallied across the curve.

Agence France Locale is set to bring its second ever syndication on Wednesday, after unveiling details of the trade on Tuesday.

UK deep-sea container port London Gateway has sold a £580m private placement and is increasing the deal to £650m.

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Public sector issuers are printing at the short end of the dollar curve, a tactic they are likely to stick to in the build-up to the next US Federal Reserve rate decision on June 15, said bankers.

Concerns of rising central clearing costs are pushing derivative market participants to step up compression initiatives and shrink trade volumes to a post-2007 low, according to an industry report.

One of Germany’s largest renewable energy project lenders has mandated banks for a debut green senior unsecured bond, which a banker involved in the trade labelled “greener than green”.