Europe

Russian Railways is offering to buy back up to €150m of its €1bn 3.374% 2021s.

Portugal is set to buy back bonds maturing over the next three years as its yields dropped to two week lows on Tuesday.

Any fears that investors might be nervous about sterling bonds in the run-up to the UK’s referendum on European Union membership eased with a pair of deals on Tuesday.

NL Financial Investments, the Dutch state agency, has named bookrunners for the IPO of insurer ASR, having already chosen the global co-ordinators earlier this year.

The London Stock Exchange Group and Deutsche Boerse are in talks over a potential merger, the boards of both groups said in a joint statement on Tuesday.

Heathrow has extended the maturity of its £1.4bn revolving credit facility, signed November 2014.

Saipem’s unfortunate €3.5bn capital raise could have wide-ranging consequences for other firms desperately in need of fresh cash to weather the commodities downturn.

Deutsche Bank tendered some of its euro senior unsecured bonds at spreads through secondary levels on Tuesday, as it sought to lower its debt burden and suppress any fears about its balance sheet.

Mark Bamford, head of global fixed income syndicate, is leaving the firm, and several promotions have been made to fill the gap. Fixed income syndicate has also been transferred out of fixed income and given its own risk reporting.

Yet another German car maker has completed a lap of the private debt market. Porsche AG closed order books for its €200m Schuldschein this week.

This week will see the Schuldschein market host its first two green deals, a new direction for the centuries-old private debt market.

The Russian loan market has brought its first dollar deal of the year with Siberian Coal Energy Company (SUEK) signing a long-awaited $1bn pre-export finance facility. The deal is its first syndicated loan since January 2014 and exceeds the size of any Russian loan of 2015.