Europe

BMW Auto Finance (China) is planning a return to the auto loan ABS market next week with a Rmb8bn ($1.1bn) deal.

Cellnex, the Spanish telecommunications company, has closed the books on its cash call to fund its acquisition of Arqiva's tower business, attracting huge levels of demand for shares.

Cerberus Capital Management has sold more than half of its stake in Bawag, the Austrian banking group, via an accelerated bookbuild.

The European Central Bank’s (ECB) overarching presence in the covered bond market was conspicuous this week but, with relative value waning and yields likely to fall, it may not prevent spread widening early next year. There was evidence of its hand too in the corporate bond market. Bill Thornhill, Burhan Khadbai and Mike Turner report.

UBS lets go of ECM bankers — Bank of America’s Coben to return after Twitter investigation — Macquarie closes cash equities business in Europe and US

Spanish banks are using strong market conditions to their advantage towards the start of November, with Banco de Sabadell completing its annual funding plans this week and UniCaja Banco getting ready to launch its debut tier two transaction.

Australia & New Zealand Banking Group (ANZ) is getting ready to offer FIG investors a very rare chance to purchase green bank capital in euros, with the issuer set to hit the road for a new tier two in November.

HSBC is planning to allocate capital away from lower return operations, including the global banking and markets (GBM) division in certain regions, as interim chief executive Noel Quinn revealed disappointing third quarter results on Monday.

French shopping centre operator Carmila visited the MTN market for the first time on Monday, 18 months after it last sold a bond via syndication. Rare issuer Toyota Industries Finance International returned to private placements at the end of last week to place its second euro floating rate MTN of the year.

A year on from the botched appointment of Andrea Orcel as CEO, Santander is pressing ahead with the next phase of its investment banking strategy, writes David Rothnie.

The holding company of the Bolloré billionaire family is planning to issue an unspecified amount of unsecured notes. Their largest investment, a 26% stake in media giant Vivendi, will be excluded from some of the covenants designed to protect the investors.

French auto-manufacturer PSA Group, which owns Peugeot, and Fiat Chrysler Automobile's (FCA) decision to explore a merger to create the world’s fourth largest car company is an important marker for an industry facing an uncertain future as sustainability and the environment become global priorities.