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Ukraine’s debt restructuring renegotiations with the international community risk becoming as hostile as those taking place in Greece, another economically throttled nation on the verge of default, fund managers and analysts have warned. -
Banca Monte dei Paschi di Siena is set to launch its long-awaited rights issue, for up to €3bn, later this month, after the European Central Bank gave approval for the deal on Wednesday.
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Curro, the Johannesburg-listed operator of private schools, has completed a R740m ($62m) rights issue.
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Würth, the German maker of screws and fastenings, opened the week’s corporate bond issuance in Europe with Monday’s sole corporate deal, drawing a solid order book at a skinny new issue premium.
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Flint Group, the Luxembourg headquartered UK provider of products and supplies for the printing and packaging industries, is seeking a price cut on a €1.5bn equivalent loan.
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The European Covered Bond Council has proposed a new generation of secured funding notes, halfway between covered bonds and securitizations. But getting them off the ground is still in the hands of the regulators.
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A weekend has passed since the UK’s general election, allowing time for investors to digest last Thursday’s surprising result. The victory confounded opinion polls, which had suggested another hung parliament. This uncertainty leading up to the election resulted in an increased level of volatility in the markets.
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Volatile markets this week did not deter German car parts maker Mahle from issuing a bond on Wednesday, and it drew plenty of interest for the seven year deal.
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Autodis, the French car parts distributor, issued a €60m tap late on Monday, pricing the deal at 103.25 to yield 5.518% to maturity.
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Sponda, the Finnish property company, cut a lonely figure in the euro corporate market on Tuesday, being the only issuer to sell a trade, its first since 2013.
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May is a month of public holidays, but the few days of respite offered by the UK government are apparently not enough for some.
