Morgan Stanley

This week’s steady run of one equity block trade a night in the European market continued on Thursday with the biggest deal so far, as Bpifrance, the French state investment fund, launched a €500m sale of more than half its holding in Eiffage, the construction and concessions group.

Indian pharmaceutical firm Laurus Labs is planning a Rp10bn ($148.7m) IPO this year and has lined up three banks to lead it, according to a source close to the deal.

Bankers and investors are paying close attention to BOC Aviation as it navigates the market with its HK$8.7bn ($1.1bn) IPO, set to be one of the largest listings of the year in Hong Kong. But what sets this deal apart is that despite its link to Chinese state-owned Bank of China, it is not being propped up by friends and family investors. Jonathan Breen reports.

Deutsche Bank is in the market this evening with a block trade of about €319m in shares of Euler Hermes, the Paris-listed trade receivables credit insurer. It is the first equity capital markets deal in the stock since 2002.

Allnex, the Brussels-headquartered coating resins business, has released price talk on its €760m cov-lite term loan ‘B’ while Amor, the German jeweler, has launched its €145m buyout debt package.

Erste Group Bank has mandated leads for its inaugural additional tier one transaction, which will be its first issuance of capital notes since it failed to pay the coupon on legacy tier one debt at the end of 2014.

After the extremes of recent weeks, with enormous order books and sometimes negative new issue premiums, Europe’s corporate bond market has reached a steadier cruising speed this week.

India's PNB Housing and Finance will seek approval for an IPO of up to Rp30bn ($448.0m) by mid-June, according to a source close to the transaction.

China Construction Bank Financial Leasing Corp has announced plans to issue its second dollar bond as early as this month, days after some of its industry peers made successful returns to the debt market.

Today was a weakish day for stocks, with the Euro Stoxx 50 down 0.5%, but that has not stopped Bain Capital executing its first block trade of shares in Bravida, the Swedish heating, plumbing and electrical contracting company that floated in October. The trade is covered.

The vogue for gym IPOs looks set to continue, with Basic-Fit of the Netherlands announcing an intention to float on Tuesday.

The IPO of Philips Lighting, though smaller than some bankers had expected, has got off to a good start, achieving coverage on Tuesday night, after the bookbuild began on Monday.