Europe

The US medical manufacturer has priced a Sfr750m ($733.92m) triple-tranche Swiss franc bond on Tuesday, making it the fourth largest corporate issuance in the currency this year.

HSBC France followed last week’s green trades with its own €500m five year deal on Wednesday, and more banks are lining up as the sought after format continues to offer tight pricing.

It may be late November, but equity capital markets are still busy with a stack of high profile deals, even now that last week's four Greek bank recapitalisations are out of the way. Abengoa's rights issue now looks unlikely to go ahead, as the company's woes have deepened.

Support from US fund managers helped Macedonia price a new sub-benchmark euro-denominated deal comfortably inside initial price thoughts on Tuesday despite rising geopolitical risk.

Allied Irish Banks will be going back to investors for more loss absorbing capital after mandating banks for a debut additional tier one issue, while the stellar performance of its recent tier two print reversed on Wednesday.

European bond markets have shown remarkable resilience to international political tensions this week, but with the US market out on Thursday for Thanksgiving, the primary markets are expected to remain quiet.

Allied Irish Banks is set to price one of the juiciest European financial institution bond issues of the year, after mandating banks for a debut additional tier one capital deal, just days after pricing a €750m tier two.

Standard & Poor’s has sent Deutsche Bank’s subordinated debt tumbling in secondary with a surprise move to slap it with a sub-investment grade rating.

A careful build up helped Veneto Banca raise €200m in tier two debt on Tuesday, as the bank looks to improve its capital position ahead of a share sale in 2016.

The initiatives taken to bring Chinese and UK markets closer together mark a new height in the bilateral relationship, with more RMB products and a possible Stock Connect link at the heart of future plans, said Nikhil Rathi, the new CEO of the London Stock Exchange (LSE).

CVC Capital Partners sold its last shares in Cerved, the Italian rating agency and credit information provider, on Monday night, in a block trade led by JP Morgan.

A new issuer joined the convertible market on Tuesday, when Aurelius, a specialist German private equity firm, issued a €166m bond with a 1% coupon and 30% conversion premium.