Europe

Danske Bank’s Finnish branch returned to the covered bond market for the first time since 2012 with a five year benchmark on Thursday. The €1bn deal offered a healthy new issue premium, and leads built a reasonable book, despite competition from cheaper alternatives in the market.

BNP Paribas moved beyond its capital raising plan for 2015 on Thursday as it launched its third tier two transaction of the year, bringing it close to fair value.

Renaissance Securities is offering to buy back what remains outstanding of Renaissance Credit’s 7.75% 2016 bonds.

Alpha Bank and Eurobank closed bookbuilding for their capital raisings on Tuesday evening, having secured enough demand from investors to completely fill their capital holes, without any need for public funds.

Lonmin's $407m rescue rights issue passed its first hurdle on Thursday (November 19), when shareholders voted strongly to approve the deal. Lonmin's shares fell 2.6%, but that was mild by recent standards.

Deutsche Bank has hired the ex-head of European capital markets at Standard Chartered for a role managing conduct and controls.

Cores, the agency which stocks Spain’s fuel supplies, printed its first syndicated bond in over a year on Wednesday. French investors propelled the international demand for the paper.

BGC Partners has appointed a new senior managing director and general manager for its London brokerage.

British American Tobacco has offered the sterling market its second long dated bond in as many days, a £350m 40 year tranche as part of a €1.1bn offering.

Groupe SEB, the unrated French domestic appliances manufacturer, pulled in a €2.5bn order book for a €500m no-grow bond on Wednesday.

Société Générale launched a €500m no-grow five year green bond on Wednesday, following ING Bank’s lead yesterday and landing near flat to its regular senior curve.

The order book for Russian Alfa Bank’s first senior unsecured bond in three years has reached $2.75bn, and guidance for the three year note has been crunched to 5.125% area.