Europe

Mölnlycke, the Swedish maker of wound dressings and surgical gloves, issued a €500m eight year bond on Monday, as the corporate bond market’s awakening from earnings blackouts continued apace.

The cancellation of the IPO of EDF Luminus, a Belgian subsidiary of Électricité de France, was caused by the Belgian shareholders’ unhappiness with the price available from a flotation.

Deutsche Bahn priced a Sfr175m 10 year bond on Monday, its first issue in Swiss francs for over a year.

FCE Bank, the UK-based European financing arm of Ford, picked its timing to perfection for its fourth bond issue of the year, on Monday.

Steilmann, the German clothing retailer, has managed to sell all the shares in its Frankfurt IPO, but only after substantially shrinking the offering.

Two SSA issuers kept it short and sweet in dollars during a fairly quiet market on Monday. One has opted for a long three year floater and the other a fixed rate 2017.

Amundi, Europe’s largest asset manager, is seeking a valuation of €7bn to €8.76bn in its IPO, the bookbuild for which was opened today (Monday November 2), and will sell a 2% stake to Agricultural Bank of China. Goldman Sachs has joined the top line of the deal.

Worldpay, the UK payments processing company, on Thursday sold its first bond issue, a €500m deal — in what could be the busiest string of seven trading days since July, with four more deals roadshowing.

A German agency could help push green bond issuance for the final three months of 2015 towards a record quarterly level, after mandating on Monday for a deal.

Shire, the UK pharmaceutical company, has agreed to acquire US biopharmaceuticals company Dyax for $5.9bn in cash. Deutsche Bank and Morgan Stanley are arranging financing.

Russian steelmaker Novolipetsk Steel (NLMK) has named the banks for the $400m four year pre-export facility it signed last week, one of only a handful of Russian loans this year.

Westpac has mandated leads and opened books for a dollar benchmark covered bond, to be priced on Monday. And in euros, Yorkshire Building Society (YBS) has mandated leads for a €500m no-grow seven year benchmark, to be launched on Tuesday.