JP Morgan

Some 17 banks have pledged roughly €15bn in a bridge loan to support Hochtief's bid for Abertis, the Spanish toll road operator.

Four new investment grade corporate bond issues in euros and one in sterling ensured European investors were much busier on Tuesday than they had been on Monday.

Valora, the Swiss convenience retailer, has raised Sfr172m through an equity capital raising to refinance its acquisition of German bakery group BackWerk and to grow its production capabilities.

The year-end bond rush is upon us, with a number of issuers from China, India and South Korea mandating banks on Tuesday for their planned dollar bonds.

The Financial Stability Board (FSB) made seven changes to its list of global systemically important banks (G-SIBs) on Monday, lowering capital requirements for BNP Paribas and Credit Suisse and removing Groupe BPCE from the list entirely.

China State Construction International Holdings and Shenzhen International Holdings are taking bids for dollar bonds, while Yiwu State-owned Capital Operation Co has mandated banks for a Reg S deal. On the other hand, Lifestyle International Holdings has decided not to pursue its fundraising for the time being.

Consus Real Estate, the German real estate developer, has raised €200m by issuing a convertible bond today to continue its growth push.

The euro high yield market woke up to a thin bond pipeline this week after suffering the largest weekly retail fund outflow since 2015. But this is not the end of trading for the year, said bankers and investors.

Corporate bond issuers are using this week to prepare investors for the last window of issuance of 2017. Monday saw more issuers add their names to the roadshow schedule in Europe as TLG Immobilien used the quiet conditions to issue its debut bond.

Deals topping €1bn are becoming more common in the European leveraged loan market, pushing gross issuance to annual record levels. CeramTec announced the latest, with a €1.1bn leveraged buyout.

Russia’s State Transport Leasing Co (GTLK) is planning investor update meetings next Monday.

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.