Europe

Metso Outotec, the Finnish mining equipment maker, and UK warehouse Reit Tritax Big Box have mandated for corporate bond issues, as the euphoria in the high grade market shows little sign of waning.

The European Union received strong demand as it tapped a June 2035 line on Wednesday to finance loan disbursements under its Covid-19 Macro-Financial Assistance (MFA) programme.

Croda, the UK chemicals company, has closed the books on a £608m ($807m) equity raise to help fund the purchase of Iberchem, the Spanish fragrance manufacturer.

Frankfurt-listed online fashion retailer Global Fashion Group has placed €120m of stock to fund future growth during the Covid-19 pandemic, which has accelerated the trend of more consumers shopping online.

Deutsche Börse has beefed up its offering in sustainable finance and corporate governance services through purchasing a majority stake in ISS, the ESG data and analytics provider.

Oma Savings Bank attracted exceptionally strong demand for its sub-benchmark covered bond on Wednesday, thanks to the double digit spread pickup it paid compared to deals from compatriot Finnish national champions. Caffil, meanwhile, recently issued an ultra-long private placement and said it plans to print further out the curve.

Symon Drake-Brockman, the founder and managing partner of European direct lender Pemberton Asset Management, thinks that the US direct lending market has matured to such an extent that further growth is tricky, whereas Europe still has fruitful opportunities ahead.

Italy’s BPER Banca was more than three times subscribed for a small tier two deal on Wednesday, as sub-benchmark transactions prove more popular than usual in the euro market.

Partners in Equity, a venture capital firm, sold a €319m block in Dutch payments firm Adyen on Tuesday evening, taking advantage of a substantial rise in its stock price this year.

Bank Nederlandse Gemeenten concluded its benchmark funding programme for the year on Tuesday with a dollar sustainability bond that garnered the issuer's bigger ever order book in the currency.

The Co-operative Bank is getting ready to sell its first senior bond for the minimum requirements for own funds and eligible liabilities (MREL), after letting investors know that it is engaged in discussions about a possible takeover.

As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.