Europe

TriOptima, the over-the-counter post-trade service provider, has completed what it said was the first compression cycle for cleared Swedish Krona interest rate swaps.

Georgian Oil & Gas Corporation has moved a step closer to issuing its first bond since 2012, setting the tenor at five years.

The Bank of England governor, Mark Carney, is not being allowed to stay out of the debate over the UK’s membership of the European Union, which is set to ramp up again this week.

Talks with the Greek government over the program review for last year’s bailout have stuck to policy changes which the embattled country can make, with “very limited, if any” discussion of debt relief, according to the IMF’s deputy managing director for Europe Poul Thomsen.

The UK Debt Management Office (DMO) has mandated four banks for its re-opening of the 2.5% 2065 Gilt, which it has scheduled for the week beginning April 25, 2016.

HLD Europe, a small and recently founded private equity firm incorporated in Luxembourg and backed by wealthy French investors, will raise up to €40m through a debut five year Euro private placement.

The process for IPOs in the UK could be improved as a result of reforms mooted by the Financial Conduct Authority, market participants say. But they also warn that the market works well now and some of the FCA’s ideas could hinder rather than help, especially if they are not implemented carefully, writes Jon Hay.

Steinhoff International, the South African furniture maker and goods retailer that has been on an acquisition spree, raised €1.1bn on Thursday with a convertible bond that bucked the recent trend of deals that have struggled, partly because it was the kind of simple, traditional structure investors like.

BBVA’s third additional tier one transaction, priced last week, is likely to demonstrate the increasing importance of “future supply overhang” for the product’s performance, according to TwentyFour Asset Management.

Italy’s strongest banks are to contribute to a fund that will back-stop the capital raises of weaker lenders, in a deal brokered by the government that has drawn scepticism from many investors, but optimism from others. Tom Porter reports.

Another blistering week for euro issuance from public sector borrowers brought a dual tranche 20 and 50 year benchmark from the French government that other sovereigns could ape — but only if their liquidity strategy allows it, writes Craig McGlashan.

Over the past 15 years UK banks have set aside over £53bn to pay for their misconduct, according to a report published on Monday, with the end nowhere in sight.