Europe

Financial services boutique StormHarbour on Wednesday said it has hired for its Madrid office Yago Valderrama, Société Générale’s former head of cross-asset solutions in Spain and Portugal.

Dutch chemical company Royal DSM issued into a quieter corporate bond market on Tuesday, but encountered much the same conditions as those who jostled for attention on Monday.

A European agency outlined size expectations on Wednesday for an inaugural visit to the additional tier one (AT1) market, after mandating for the deal earlier in the day.

Adif Alta Velocidad, the Spanish state high speed rail network company, received heavy domestic demand for its €600m bond issue on Tuesday, which enabled it to pay a single digit new issue premium, as La Poste had the day before.

Italy shunted just over €2bn of redemptions due over the next three years into the next decade, as Portugal sliced several basis points from its short term borrowing costs.

Technicolor, the French media company, has raised a €375m five year incremental term loan maturing, which is due to be syndicated in the coming days.

Credit Mutuel Arkéa issued a covered bond for the first time since June 2013 on Wednesday, but despite its rarity, it was compelled to offer a wide spread given the weak market conditions.

Russian steelmaker Novolipetsk Steel (NLMK) has arranged a syndicated loan of around $400m, after a long and protracted grappling with lending banks.

The Republic of Latvia has released initial price guidance at 40bp area over mid-swaps for its new 10 year euro denominated bond, representing only a 20bp new issue premium, but a doubling of the sovereign’s secondary spreads, according to bankers away from the note.

Symetis, the Swiss company that makes heart valves, began the bookbuild for its Sfr80m IPO on the SIX Swiss Exchange on Tuesday.

Hastings Group Holdings, the UK car insurance company, announced on Tuesday its plan to float on the London Stock Exchange, issuing about £180m of new shares. The deal will also include a secondary component.

Mizuho International’s European head of high yield credit trading has left the job at the bank and will not be replaced.