Europe

Turkey’s Yapi Kredi, Russia’s Credit Bank of Moscow and Banque Ouest Africaine de Banque Ouest Africaine de Développement have all approached investors this week to sound out interest in hard currency bonds.

US private equity group KKR has cut the size of its stake in ProSiebenSat.1 Media, the German media company, raising €148.50m.

The covered bond market went from famine to feast on Wednesday with a wide array of deals that all went very well.

InPost, the Polish provider of postal lockers, has launched an IPO on the Amsterdam stock exchange, seeking to build on the momentum of compatriot e-commerce companies in equity capital markets, as exemplified by Allegro's IPO last year.

Komerční banka sold the Czech Republic’s first euro denominated benchmark covered bond on Wednesday, landing flat to the curve of its Slovakian neighbours despite the European Central Bank’s absence from the book.

DZ Bank said this week that it will redeem eight tier one bonds issued out of special purpose vehicles, in preparation of the EU’s Capital Requirements Regulation transition period ending.

Spain is planning to issue its hotly anticipated inaugural green bond in the second half of the year through syndication in what will be the first step in the sovereign’s ambition to become a regular green issuer and build out a curve in the format.

Latvian covered bond legislation permitting the cross-border recognition of cover pool assets is expected to be enacted later this year. The new law is considered to be essential for the development of a pan-Baltic covered bond market, legal experts have said.

Intermediate Capital Group, the UK alternative asset manager, has hired Philippe Arbour from Palamon Capital Partner to help further develop its Senior Debt Partners strategy.

Anyone who thought the culmination of a trade deal between the EU and UK would provide a shining ray of clarity for financial services as to the level of market access between the two has been proved wrong. Little progress on regulatory equivalence decisions has been made, and while this points the way towards divergence, it is still unclear how exactly the UK would go about this.

World Bank hired banks on Tuesday to lead a new 40 year euro sustainable development bond — the supranational’ s longest ever benchmark in the currency. The deal will be the latest example of public sector borrowers venturing longer in the euro market this year.

The dollar market is on an unbelievably hot streak, with deal after deal smashing records thanks to cash-rich investors and higher yields in the US Treasury market.