Europe

Bankinter raised €200m of well-flagged additional tier one capital on Thursday, coming good on its promise to soften the financial impact of the bank’s expansion into Portugal.

Nationwide Building Society launched a 10 year senior unsecured transaction in sterling on Thursday, building strongly on the back of recent successes from other UK issuers.

Mercuria, the Swiss energy and commodity trader, has launched its annual loan refinancing, and commitments are due May 16, according to a banker on the deal.

Berlin Hyp has increased the volume of mortgages eligible for its Grüner Pfandbrief, or Green Pfandbrief, by more than 50%, suggesting a second deal from the lender could soon be on its way.

Bank Gospodarstwa Krajowego (BGK), Poland's state development bank, on Thursday released initial price guidance for its 10 year euro deal.

German bonds may be the tightest asset class in the covered universe, but their relative value has improved lately and the market looks cheap relative to Bunds and French covered bonds, say analysts at Citi research.

Tuesday and Wednesday brought a pair of private equity block trades following first quarter results, but nothing to match the fireworks of Monday night, when Credit Suisse placed £1bn of stock in SABMiller for Kulczyk Investments at a 0.88% discount.

The recent run of good news on IPOs was broken on Wednesday when Telepizza made a dire debut on Bolsa Madrid after its €550m flotation, priced on Tuesday.

London & Quadrant Housing Trust rode the waves of strong demand for corporate sterling paper on Wednesday as it achieved a minimal new issue premium for a bond that was over three times oversubscribed.

Belgium is set to bring a private dabbling in ultra-long debt issuance into the public sphere, as it mandated on Wednesday for a debut 50 year euro benchmark a week after placing its second 100 year medium term note.

The European Investment Bank sold a £500m tap of its February 2019s on Wednesday, taking sterling issuance from public sector borrowers to its highest level for nine weeks.

Nynas, the Swedish bitumen and speciality oils producer, has signed €650m of loans in an oversubscribed deal with six banks.