Europe
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Bank of England governor Mark Carney confirmed to the UK parliament on Tuesday what currency traders and analysts have been saying for weeks: worries about the EU referendum are sending prices higher for sterling options and raising the risk of a sharp fall in the pound. -
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Berlin Hyp (BHH) issued the first negative yielding fixed rate euro covered bond on Tuesday, days before the European Central Bank lowered the discount rate further into negative territory.
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Lenders and bondholders representing 40% of Abengoa’s creditors joined efforts on Thursday with the company’s founding family, the Benjumeas, to present a rescue plan of a name that has become Spain’s most infamous borrower of recent times.
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Many other issuers, and particularly those in Germany, likely to follow Berlin Hyp's lead with negative yielding covered bond supply.
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TeamSystem, the Italian business software vendor, has funded the entire €600m of debt for its leveraged buyout by Hellman & Friedman with privately placed bonds — an event some high yield bankers and investors see as impressive, but not necessarily starting a trend.
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North Energy, the Norwegian oil and gas exploration company, signed a Nkr950m($112m) exploration financing agreement on Tuesday with two banks.
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Swedish call centre operator, Transcom Worldwide, has changed the make-up of its bank group in an otherwise straightforward refinancing deal signed on Wednesday.
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The German bank is building on momentum in European DCM with an expansion of its corporate finance business, writes David Rothnie.
