Europe

The UK Debt Management Office has named banks for its latest 50 year syndicated bond.

Intertrust, the Dutch corporate and trust services company, has closed the book for its IPO, which is set to raise at least €522m.

Equiniti Group announced on Wednesday the price range of its initial public offering on London’s main market, which would give it a market capitalisation of £495m to £600m.

Berlin Hyp has mandated leads for its third covered bond of the year but its first with a five year maturity.

Santander and BBVA both looked to the dollar market to secure senior funding on Tuesday amid a bare session for European FIG issuance.

UK gambling company Gala Coral has said it intends to redeem its high yield bonds by the time its merger with peer firm Ladbrokes is completed, which is expected to happen in the first half of next year.

Finnish telecommunications company DNA has refinanced loan facilities with a €250m credit facility, signed today.

Agricultural Bank of China (ABC) priced a landmark transaction this week, raising approximately $1bn from a dual-currency, triple-tranche bond. Not only was this China’s first financial green bond, but ABC was also the second bank from the country to sell notes in London in as many days, setting the stage for president Xi Jingping’s visit to the UK next week. Rev Hui reports.

Commerzbank Corporates & Markets examines the international attractions of Germany’s private placement solution

Worldpay, the UK payment processing company, floated for £2.16bn on Tuesday, in the largest initial public offering in London since Glencore’s in 2011, and the fifth largest in Europe since the financial crisis.

Enexis, the Dutch electricity grid operator, issued a €500m bond on Tuesday and achieved a six times oversubscribed book, which syndicate bankers hailed as potentially reinvigorating Europe's corporate bond new issue market.

Bravida, the Swedish electrical, heating, plumbing and ventilation systems installer, narrowed the price range of its IPO on Tuesday morning, inside the top half of the original range, meaning the deal is likely to raise at least Skr2.8bn (€305m).