Europe

A syndicate banker on ING’s high yield and emerging markets desk has left his position at the bank.

Nederlandse Waterschapsbank bounced back from a pulled deal last week to print its largest trade in any currency to date on Tuesday, as a Canadian province mandated for a euro deal.

Oberthur Technologies Group, the digital security company fully owned by Advent International, registered its document de base on Monday, as it prepares to float in Paris.

Bank Nederlandse Gemeenten and KfW came together in the same currency and tenor on Tuesday, with both issuers able to find healthy demand.

Finland’s Municipality Finance has edged nearer to its funding goal for the year with a pair of Norwegian krone bonds, its first prints in the currency since early 2014.

KfW has equalled its previous record-breaking green bond with its second issue in the format in euros — and was able to tighten pricing as well as,increasing the deal’s size.

The UK Debt Management Office built its largest ever order book for a syndicated bond on Tuesday, when it printed a deal with the longest duration in its conventional Gilt portfolio.

Energía & Celulosa (Ence), a Spanish producer of eucalyptus pulp and biomass energy, opened a roadshow on Wednesday for €250m of bonds, in a high yield market that bankers see as slowly reviving.

Aktia Bank launched and priced its first ever Swedish krone bond on Monday, in a deal that could trigger more issuance in the currency as borrowers hunt for investor diversity.

Midcap Schuldschein issuers already have one eye on 2016 as this year’s biggest borrowers continue to enjoy oversubscribed order books.

Unione di Banche Italiane (UBI) and Monte dei Paschi di Siena (MPS) followed Banca Carige with €750m covered bond benchmarks on Tuesday. Like Monday’s deal from Carige, the two transactions were barely subscribed despite generous pricing, and heavily relied on demand from the Eurosystem.

Four issuers launched covered bonds on Tuesday following the four that launched deals on Monday, doubling supply from €3bn to €6bn so far this week. By virtue of its size, Compagnie de Financement Foncier’s (CFF) €1.25bn benchmark stood out, but the level of demand was far below its previous five year even though the concession was several times larger.