Europe

Grupo Corporativo Landon, a vehicle for the Gallardo family, has sold €167m of shares in Almirall, the Spanish pharmaceuticals company, to increase the free float of the stock on Spain’s stock exchanges.

Equity capital markets bankers are continuing to benefit from strong momentum in the accelerated market, with a £304m ($391.6m) trade in Network International, the London-listed UAE payments company, on Tuesday night. A large anchor order helped the deal over the line.

Credit Suisse has chosen a banker from Deutsche Bank to co-lead its healthcare team in Europe, the Middle East and Africa.

Czech gaming company Sazka, with lottery operations around Europe, debuted in the euro market on Tuesday with €300m of senior unsecured notes, priced at 4.125%.

A new drive is being launched by investors in London today to persuade companies to root out modern slavery in their supply chains. The quest will be hard in two ways: firms will risk bad publicity if they find slavery; and investors are unlikely to make money out of the work.

The European Securities and Markets Authority has issued technical advice for the European Commission on the treatment of third-country central counterparties (TC-CCPs).

Two SSA borrowers have will follow KommuneKredit's lead by issuing green bonds on Wednesday after the Danish agency announced and priced a deal on Tuesday.

KfW has mandated banks for its first €STR transaction as it looks to become the third public sector borrower to sell a bond linked to the new euro risk-free rate.

AIB Group has wasted little time in accessing the debt markets for subordinated capital. It launched a tier two bond this week, little over a month after selling an additional tier one (AT1) bond, adding to its minimum requirements for own funds and eligible liabilities (MREL).

Tuesday might be a day to spare a thought for any investor long Netflix as Disney launches is streaming service, Disney +. But the flotation of UK visual effects firm DNEG might just give them a way to profit from the coming war between the big streamers.

Danish Ships Finance, Natixis Pfandbriefbank and Raiffeisen Bank International will keep the primary market busy with deals and roadshows this week. But the main focus will be on the size and spread that Deutsche Bank achieves for its innovative debut structured conditional pass through (CPT) covered bond that will be launched imminently.

Intesa Sanpaolo and Landesbank Hessen-Thüringen (Helaba) gave investors the chance to put money into preferred senior paper on Tuesday. Both trades attracted chunky order books and gave away a small new issue premium.