Europe

As WTI and Brent crude oil prices slip down below $30, high yield analysts are pointing at Spain’s oil producer Repsol as the first European company that could cross over into the sub-investment grade market.

Clydesdale and Yorkshire Bank Group, the UK mid-sized bank being spun off by National Australia Bank, had by day three of bookbuild received more than enough demand to place all of the shares in its London IPO.

A large group of investors is determined to reject a buyback offer on billions of euros in soured bonds guaranteed by the Austrian State of Carinthia — an offer that may represent the province's only chance of avoiding an unprecedented bankruptcy, writes Graham Bippart.

Crédit Agricole issued the first covered bond of the week on Thursday and showed that it is possible to get a strong outcome despite a tough market, something which eluded Compagnie de Financement Foncier on Wednesday.

Hungary may add more banks to the mandate for its potential dim sum bonds, said Andras Rez, deputy chief executive officer at the government debt management agency (AKK) in Hungary.

The Bank of Portugal could compensate Novo Banco bondholders who were written down at the end of last year, as the controversial bail-in comes under further scrutiny.

The treasury chief of one of Russia’s largest private banks is set to retire this summer.

Ukrainian Railways (Ukrzaliznytsia) is a step closer to restructuring its $500m of bonds due 2018 and will seek agreement from investors at a meeting on February 17.

Private placements have taken up the bulk of Municipality Finance's funding so far in 2016, but the Finnish agency plans to make its debut public issue in euros this quarter.

Belarusbank has signed what it describes as the largest loan in Belarusian banking history for €245m, although the country’s wilted syndicated market means that Belarusbank was also the issuer that set that record.

The Hong Kong Stock Exchange has given Russian companies the nod to list depositary receipts on its main board.

Aurora Shipping has signed a €200m credit facility with two lenders to finance four new-build vessels.