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Italy sold debt with a negative yield for the second day in a row on Wednesday, as it prepares for a sale of longer term bonds amid strong speculation that the European Central Bank will expand quantitative easing in December.

World Bank has priced the first deal from a new retail focused socially responsible investment programme — and it could sell more notes as often as once a month.

Gala Bingo, the retail bingo division of Gala Coral, has been bought by Caledonia Investments for £241m, using a £155m senior debt facility and a £98m cash payment.

Romanian utility company CEZ Distribution has signed a Leu675m (€152m) EBRD-arranged financing which is the first long tenor syndicated loan in Romanian new lei that the development bank has arranged.

S H Kelkar & Co looks set to continue the strong momentum in the Indian IPO market, with investors clamouring for shares in the flavour and fragrance producer’s Rp5bn ($77m) float.

VTB Bank intends to buy back $418.8m of dollar bonds and Sfr67m in Swiss franc bonds following the result of a tender offer that expired this week.

Few lenders deemed it wise to launch new trades at the beginning of this week, but inaction owed more to caution than market deterioration, as bankers suggested that conditions are ripe for trades to come.

Swedish lender Swedbank kept Australian dollar supply ticking over on Tuesday, pricing its first bond in the currency since 2008.

Banks outside the bulge bracket are pushing to be allowed more influence and information in high yield bond syndications, which have traditionally been tightly controlled by the top banks. Victor Jimenez reports.

EM monthly fund inflows turned positive this month for the first time since June, and bond fund flows for developing markets were the strongest since January.

Majid Al Futtaim (MAF) priced its latest 10 year sukuk flat or even inside its secondary curve, according to bankers on and away from the deal.

The European equity capital markets have swallowed mega deals so far this week, as Poste Italiane started trading and ABN Amro announced its intention to float, but some initial public offerings are struggling.