Europe

Telenet, Belgium’s largest cable operator and a subsidiary of Liberty Global, issued a €530m high yield bond on Tuesday, to refinance its 6.375% 2020 bond.

Mediclinic, the South African healthcare group, will launch on August 11 a R10bn ($810m) rights issue to fund its takeover of Cinven’s remaining stake in London-listed Spire Healthcare.

The UK Debt Management Office reopened a 2068 bond on Tuesday with a syndication that was nearly four times subscribed.

World Bank joined a swarm of issuers looking to print in the dollar market with a mandate on Tuesday for the first 10 year benchmark in seven weeks.

International Airlines Group replaced Bank of America Merrill Lynch and Deutsche Bank as the initial lenders in its €1.4bn acquisition facility because the pricing they wanted for the loan was too expensive, according to a banker on the deal.

Spain’s three month borrowing costs dipped back into negative territory and to a record low on Tuesday, as the eurozone periphery enjoyed a strong run of trading before Portuguese auctions later this week.

DomusVi, the French operator of private care homes for the elderly, announced on Tuesday a €125m tap of its subsidiary HomeVi’s only high yield bond, as it is acquiring Geriatros from private equity fund Magnum.

DVB Bank SE made an opportunist move into the market on Tuesday after announcing a four year trade on Monday.

Two peripheral bank trades on Tuesday offered further proof that the FIG market is once again in rude health. Ibercaja Banco opened books on its long awaited tier two and Banco Popolare opted for a senior five year.

VTB's huge multi-tranche tender offer makes financial sense, but also demonstrates the pessimistic outlook for Russian growth at one of Russia’s biggest corporate lenders, despite this year’s rally in the country’s bonds.

Slovenia launched a 10 year euro benchmark on Tuesday, but decided against adding a 30 year tranche.

The UK’s conduct regulator may have lost its boss, but it’s still going from strength to strength, despite having less reason than ever before to exist at all.