Natixis

Commerzbank returned to the covered bond market on Wednesday to issue its fourth deal of the year. Although order book granularity was less than usual, the €500m long six year was priced tightly and the quality of interest was high.

Groupe SEB, the French maker of household appliances, issued its first convertible bond on Tuesday, raising €150m at a negative yield, as part of the financing for an acquisition.

Nordea Mortgage Bank (NMB) has successfully issued its first deal. The choice of tenor, along with the issuer’s strong credit profile, and strong sentiment towards the Nordic region, were instrumental in achieving the positive outcome.

In the midst of an aggressive EM bond rout, Egypt was given a much needed boost after the International Monetary Fund approved a three year $12bn loan on Friday.

Shares in Phoenix Group Holdings, the UK buyer of closed life insurance books, have gained 1.9% since the company announced on Wednesday the successful completion of its £735m rights offer to finance its takeover of Abbey Life.

Natixis’s ‘asset light’ restructuring strategy, called New Frontiers, showed signs of success in Q3 with revenue from new loan production more than doubling and equities jumping 14%.

A day of calm in European markets opened a window for primary issuance on Monday that French property investment company Icade seized, one day before the US presidential elections.

Syndication for the refinancing of $1.235bn of loans for commodity trader Gunvor has closed, with lenders making “significantly oversubscribed” commitments, while competitor Trafigura faces a €2bn maturity this month.

Caja Rural Navarra is planning the first green covered bond of the year. It follows a trio of covered bonds issued by Australian banks and the first transaction to be issued from Nordea in more than a year.

This was the week high yield borrowers in sterling came out of the Brexit shadows to face a market ridden with political tensions — what they found was hungry, but sober, investors.

French trade fair organiser Comexposium on Wednesday joined the recent wave of refinancing offerings in the euro leveraged loan market with its own €394m offering.

Aluminum Corporation of China (Chalco) raised $500m from a perpetual non-call five year bond on Monday, managing to woo investors against a volatile backdrop.