Europe

Deutsche Pfandbriefbank took a plunge into the euro senior market on Thursday, overcoming an uncertain backdrop to print a deal that leads claimed could transform its future investor base.

UBS has asked Markit to administer and calculate its investible indices, as the bank looks to meet Europe’s regulatory push to improve transparency and oversight of industry benchmarks.

One of Credit Suisse's most senior leveraged finance bankers is heading back to Switzerland to join the management team of the group's Swiss entity, as it prepares for a partial IPO in the next two years.

Asset quality took a turn for the worse in 2015 for Italy’s banks, whose future remains unclear despite newly approved plans for a state-backed bad bank.

KfW and the European Investment Bank nipped in with one-day executions on Thursday, raising €1bn apiece in what has been a turbulent week.

Ascential, the information and events business formerly known as Top Right Group and Emap, on Thursday started building the book for a London IPO that could give it a market capitalisation of up to £880m.

Cigar and pipe tobacco manufacturer Scandinavian Tobacco has set the price range for its all-secondary IPO at a “very considerable discount” to comparables, according to a banker on the deal.

Austrian engineering and construction group Strabag has refinanced the €2.4bn of loans it signed in 2014 — a record size for an Austrian corporate borrower — with no changes to the banking group.

Gruppo Statuto’s €59m San Basilio Property minibond has begun trading on the Vienna Stock Exchange.

AIB Mortgage Bank attracted robust demand for its seven year covered bond, the first deal from Ireland this year. The transaction benefitted from a very attractive spread to the government curve compared with deals issued by Spanish and Italian banks, and the return of demand from asset managers.

Metinvest has swerved a default of its Eurobond due January 31 after bondholders voted to approve a waiver which will enable the issuer to restructure its debt without triggering a cross-default clause.

Deutsche Bank will focus on 2016 as a "peak restructuring year" and its executive board will forgo bonuses as the bank attempts to regroup after a full year loss of €6.8bn in 2015.