Goldman Sachs

Shares in Migros Ticaret, one of the biggest supermarket chains in Turkey, fell 8.5% on Wednesday after BC Partners sold a 7.3% stake in the company in a block trade on Thursday night. The shares fell another 3.5% on Thursday.

Schibsted, the Norwegian media group, has raised Nkr2.7bn (€258m) of fresh equity in a block trade, to finance its growth in digital classified advertising. The book was very large, with around 180 investors.

Abu Dhabi National Oil Co has signed its $6bn debut syndicated loan facility with 13 banks. The deal was well received by banks, driving down pricing to new lows.

Jianpu Technology appears to have made the right call to price its $180m IPO on the New York Stock Exchange below the initial range, after its shares traded up on their debut on Thursday.

Two companies made their investment grade bow on Thursday as an improvement in sentiment encouraged borrowers to capitalise on decent conditions and wrap up funding in the final weeks of the year.

A €30bn debt exchange by Greece’s Public Debt Management Agency began on Wednesday and should help the sovereign boost the liquidity in the long end of its curve, said SSA bankers. But some warned that liquidity cuts two ways, meaning the sovereign’s levels could be more sensitive to any bad news that comes its way — although those working on the deal feel the upside far outweighs that risk, writes Craig McGlashan.

Rating: Aaa/AAA/AAA

The social bond market — though still nascent — is rapidly gaining momentum. Three public sector issuers made their debuts in the market this week, all of which met with enthusiastic approval from Europe’s community of dedicated socially responsible investors.

UK debt collector Cabot Credit Management has abandoned its IPO on the London Stock Exchange, blaming unsupportive market conditions.

Emaar Development, the real estate development unit of Emaar Properties, has priced its Dh4.8bn ($1.4bn) IPO below the mid-point of the initial range, valuing the business at Dh24.1bn ($6.6bn).

Borrowers and investors marched on in the European leveraged finance markets this week, pricing €1.5bn of high yield bonds while bankers have been able to tighten terms on new loan deals during syndication. Deals pulled earlier in the week in the US are already a fading memory.

Credit Suisse has seen several senior departures from its Asian equities business, with Nicole Yuen and Ronald Cheung leaving the bank.