Europe

Ukrainian steelmaker Metinvest has been notified that holders of in excess of 50% of the outstanding principal amount across its $85.2m 10.25% 2016s, $289.7m 10.5% 2017s and $750m 8.85% 2018s have formed an ad hoc committee.

Raiffeisenlandesbank Niederösterreich-Wien AG has mandated leads for a covered bond roadshow to commence in early October.

Cities and municipalities are some of the most suitable issuers for the green or socially responsible bond market, but the cost and effort could be too much to for some. Jonathan Breen reports.

British operator of cloud services Interoute Communications’ €590m secured notes braved a rough primary high yield market on September 25 and recovered this week from an initial hit in the secondary.

Schiphol Group, the owner of Amsterdam's Schiphol Airport, on Monday sold €300m of secured notes, in a European corporate bond market that bankers say has overcome its recent anxiety about macroeconomic issues.

Hapag-Lloyd announced on Monday its intention to float in Frankfurt, as it finally launched a deal which had been in the pipeline for a very long time.

Hopes of concerted action to tackle climate change have been dashed before, but many are daring to be confident about the Paris summit this December. Jon Hay reports.

Poste Italiane, the Italian state-owned post office, launched on Monday the investor education phase of its long-awaited, mammoth-sized initial public offering in Milan.

A German agency is set to tackle the short end of the euro curve, as a fall in rates across the curve limits issuers’ options in the currency.

A European sovereign will sell a short dated dollar benchmark on Tuesday, but a weak market backdrop and tight swap spreads are likely to hold other issuers back from bringing deals in the currency.

Spain is enjoying a strong warm-up for a debt auction this week, as its yields fell faster than its eurozone periphery peers following a Catalonian election where independence parties won just under 50% of the vote.

An evolution is happening in emerging market issuers’ use of yen funding. For many years, many of them have only been able to issue Samurai bonds by using JBIC’s GATE (Guarantee and Acquisition toward Tokyo market Enhancement) programme, but steadily more of them are stepping up to standalone issuance. At the same time, benchmark borrowers are bringing along less established issuers from the same countries in their wake