Intesa Sanpaolo

The identity of the bank arranging a loan to fund the privatisation of Russian oil company Rosneft has loans bankers in Europe baffled, which suggests domestic lenders will provide the funding.

The 'no' vote in Italy’s referendum on constitutional reform was met on Monday morning with a muted reaction in credit and equity markets but, with profound uncertainty overhanging the political situation and Banca Monte dei Paschi di Siena’s rescue plan, analysts are not optimistic about the performance of the Italian financial sector in the short term.

German building materials manufacturer HeidelbergCement capped a month of good rating agency news with a blowout order book as it tapped the euro bond market for €1bn on Monday.

FIG supply could slow to a halt before Thanksgiving this year, as bank issuers grapple with a rapidly shifting backdrop in politics and financial markets.

Italy’s largest domestic bank, Intesa Sanpaolo, saw non-performing loan inflows slow to the lowest rate ever in the third quarter, though operating margins drooped as the bank paid more to service bad loans.

US glass container manufacturer OI on Thursday added its deal, a loan-to-bond refinancing, to a high yield market scoreboard already loaded with another seven offerings.

Yet another Italian corporate has come to the new issue euro bond market seeking liability management refinancing, as utility company Iren on Monday offered investors a €500m eight year bond.

Russia gave more details on Wednesday of its plans to privatise stakes in state assets, including Rosneft, VTB Bank and shipping company Sovcomflot.

Necta & Wittenborg Global Vending, the Italo-German vending machine maker, kicked off October for the euro high yield market, which printed €16bn of deals during the previous month.

Spanish natural gas utility Enagás is in talks with its relationship banks to refinance a €1.5bn revolving credit facility.

Italian spirits company Gruppo Campari has signed a €300m three year term loan with three banks to repay US private placement notes signed in 2003 and 2009, in an effort to reduce its funding costs.

Italian real estate company Beni Stabili signed a €710m facility on Thursday backed by its key Telecom Italia assets.