Europe

NRW.Bank has priced a benchmark at the tight end of guidance in the busiest dollar SSA market in several weeks — one that could still host a few more deals.

Meggitt, the UK engineering company, has increased its acquisition credit facility to $600m to buy the composites division of EDAC, formerly known as Parkway Aerospace and Defense.

Arrow Global, the UK distressed debt buyer and manager, on Wednesday issued a €110m tap of its €225m floating rate high yield bond, to support business purchases in the UK and Portugal.

Coca-Cola made an impressive debut in Swiss francs on Tuesday with a three tranche deal that matched Shell’s August record-breaker in size.

Cyfrowy Polsat, the Polish television company, has signed a loan for Z12.5bn ($3.3bn) with 20 banks, which it claims is the largest ever corporate loan facility in zlotys.

The IMF’s Christine Lagarde has urged Ukraine’s creditors to vote in favour of restructuring resolutions at a series of meetings the Ukrainian government has scheduled for October.

UBS has hired an emerging market credit sales specialist to its office in London.

Banco Popular Español (BPE) returned to the covered bond market for the third time this year to issue a six year deal on Wednesday. After the relatively weak reception Caja Rural de Castilla-La Mancha (CRCLM) received for its similar six year on Tuesday, BPE did well to raise €750m.

The ascent of Jeremy Corbyn to lead the UK's Labour Party is ultimately an outcome of the financial crisis. As the party in power when the crisis struck, Labour’s economic competence was discredited with voters with election defeats in 2010 and 2015.

Trading of derivatives on the Moscow Exchange was halted for two hours this week after systems failed.

A near tripling of Volkswagen credit spreads on Monday and Tuesday this week, along with a sharp widening of other names in the European autos sector, is a kneejerk reaction that is likely to be corrected soon, according to some traders and strategists.

The capital markets beating for Volkswagen worsened today, as the German car manufacturer’s bonds widened again in secondary markets.