ING

Bookrunners will start marketing the financing for KKR’s buyout of Unilever’s spread business as soon as next week, with the European high yield bond and the leveraged loan market both braced for supply.

The Autonomous Community of Madrid on Tuesday printed its largest ever sustainable bond — and its biggest bond of any kind in three years — with a trade that was double the size of its SRI debut last year. Bankers away from the trade hailed the “excellent” result, with one saying it was “probably as good a result as the issuer could have hoped for”.

After a buoyant January, emerging markets took a hit this month, with volatility leading to the biggest outflows seen in more than a year. But this is likely to be just a short-term blip.

The Autonomous Community of Madrid is prepping its second ever sustainable benchmark, after mandating banks on Monday.

Wabco Europe BVBA, an industrial equipment supplier with headquarters in Brussels, has launched a €200m inaugural Schuldschein. The deal is guaranteed by Wabco Holdings, a company listed on the New York Stock Exchange.

Europe’s speculative grade debt markets began cautiously weighing the impact of a recent surge of US-driven volatility this week. While high yield issuers remain circumspect, leveraged loan borrowers led by French calibration specialist Trescal are charging on, confident that investor demand remains strong.

Financial institutions are likely to be cautious about jumping back into the primary market this week, after a recent sell off in equities and credit.

Umicore, the Belgian materials technology and recycling group listed on Euronext Brussels, braved volatile equity markets on Thursday to raise €891.5m of new equity.

Rail travel will be the centrepiece of the Belgian government’s green bonds, the framework for which was revealed on Thursday morning at meetings in Brussels.

Credit Bank of Moscow and Domodedovo Airport (DME) brought the total Eurobond tally of Russian issuers this year to seven this week. Those latest two issuers jumped in shortly after Directive 1 sanction fears were quashed by the US Treasury.

Rating: Baa1/A-/A+

Global stock markets have suffered from volatility in recent trading sessions but European primary leveraged finance markets had already slowed down as investor pressure grew around a €1.4bn deal for storage firm Algeco Scotsman and the worrying performance of UK retailer New Look.