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The European Securities and Markets Authority has fined Fitch for conflicts of interest, relating to ratings given to entities where French billionaire businessman Marc Ladreit de Lacharrière sat on the board. The French businessman indirectly owned a stake in the ratings agency.

A head of syndicate for SSA, MTNs, and short term markets has left his employer of 15 years to enrol in a fintech course at Oxford University.

The European Financial Stability Facility will probably issue in the 10 to 20 year part of the curve for its first benchmark of the second quarter, according to SSA bankers.

The Government of Sharjah printed a $1bn seven year sukuk on Tuesday. The strength of demand surprised even Tom Koczwara, director of the emirate’s debt management office.

Alrosa, the world’s largest diamond mining business by carat volume, embarked on investor meetings on Tuesday to market a dollar benchmark Reg S/144A senior bond.

Romania has released initial price guidance for its euro triple tranche bond, a deal which is expected to total over €2bn and includes the sovereign’s first ever euro 30 year bond.

Caixa Económica Montepio Geral opened books for its first public tier two capital issue on Wednesday, announcing eye-catching price thoughts of 10.5% area.

Moody’s has decided not to give any equity credit to the £3.44bn of mandatorily convertible bonds issued by Vodafone on March 5. That means the UK mobile phone company has not yet achieved the total equity credit it had hoped to get from its financings for its Unitymedia acquisition. Vodafone announced on Tuesday March 26 a new hybrid capital issue which will gain it some more equity credit (see separate story).

Equity bankers expected clarity about Brexit by this week, for better or worse, and had hoped to start work again on UK IPO projects. But further delays and political uncertainty have swept these deals back to the sidelines.

Mersen, a French technology manufacturer, will not accept bids from UK-based lenders for its new Schuldschein “in anticipation of a potential Brexit”. Three bankers away from the transaction said they have also discussed excluding UK lenders with other borrowers.

Coventry Building Society was set on Tuesday to become the first ever issuer to simultaneously sell new additional tier one notes and tender for outstanding bonds, in an approach that could soon be followed by other European financial institutions. The transaction was facilitated by TwentyFour Asset Management, which is a ‘significant investor’ in both the firm’s new and old AT1s.

South African technology conglomerate Naspers is set to list its international assets in a new company on the Euronext Amsterdam, creating what is likely to be the largest internet consumer company in Europe. But there will not be an initial public offering as part of the transaction.