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A seven year borrowing of up to $500m for state-owned Indian company National Thermal Power Corp (NTPC) has become the first to be stymied by a change in guidelines to foreign currency debt issuance by domestic companies.

Citigroup has on Wednesday night launched the first European equity block trade of the week, selling 12m shares in Elior, the French catering company, for about €212m.

Medical equipment maker Nipro launched on Wednesday the first of this year’s Japanese convertibles sold outside Japan, and found keen demand, with a seven times oversubscription.

This year’s first high profile IPO in Europe began today, when CMC Markets, the financial spread betting firm founded by Peter Cruddas, announced its long-expected intention to float in London.

LGC, the UK life sciences company, has set price talk on its £500m debt package backing its acquisition by KKR from Bridgepoint after holding bank meetings January 13.

ISDA, entering new territory, has asked members to help it put together an external review panel to resolve its deadlock over whether or not Novo Banco has triggered a credit event.

The Slovak Republic has mandated three banks for a Reg S 15 year public benchmark. It added that it will wait until the second quarter of the year at the earliest to tap the private placement market.

Belgium has scored the second bumper sovereign trade of the week, building one of its largest books in several years to print a 10 year euro benchmark that enjoyed strong participation from beyond Europe.

The Japan Bank for International Cooperation priced a 10 year benchmark while the Province of Ontario placed a three year bond on Wednesday. Both issuers impressed bankers away from the trades, coming as they did amid difficult conditions.

New European leveraged loan financings in 2015 reached a median enterprise value to Ebitda ratio similar to that of 2007-8, according to Fitch research.

Anheuser-Busch InBev has brought its jumbo acquisition financing to the US corporate bond market on Wednesday, after days of speculation over when it would arrive. But that did not deter Telecom Italia and Mondelez from issuing in the European market.

A tumultuous start to the year has made it more expensive to buy hedges, but strategists at banks in New York have some ideas to keep costs in check.