Santander

European banks remain divided on whether to make their minimum requirements for own funds and eligible liabilities (MREL) public, as the Single Resolution Board presses on with informing financial institutions of their first sets of binding targets.

Rating: Baa1/A-/A-

Spain, fresh from its success with a 10 year benchmark on Tuesday, is eyeing a return to the long end of the syndicated inflation linker market towards the end of the year.

Spain’s Masmovil has completed a second round of refinancing on its bank loans, shaving a further 100bp off the cost of its total debt pile and ramping up the size to €831m.

Two euro borrowers launched benchmarks on Wednesday, sharing the SSA euro market. While both secured successful deals, one found the market tougher going, as investors pushed back.

A pair of borrowers have hit screens for euro benchmarks to be sold during Tuesday’s session, but another nipped in ahead of the rush to price on Monday.

Santander said it has hired two bankers, one from Deutsche Bank and one from Goldman Sachs, into its US CIB unit, bulking up its efforts to sell debt and derivative products to US firms.

Spanish electricity utility Iberdrola has been one of the leading corporate issuers of green bonds and, on Thursday, it took its total green issuance to more than €7bn with its latest offering.

Coface Poland Factoring has signed a €300m-equivalent syndicated loan to partly replace bilateral credit lines, stretching out the average debt maturity for the Polish subsidiary of the French trade insurance company.

The Basque Government this week gave one of the best signs that investor worries about Italy’s political situation are unlikely to spill over to other countries as it printed a three times subscribed debut sustainability bond.

On the anniversary of the resolution of Banco Popular, GlobalCapital takes a look at the issues raised by this important first test of the EU's Bank Recovery and Resolution Directive (BRRD).

The Basque Government’s return to bond markets on Tuesday after a more than two year absence suggested that investors are not duly concerned about Spain being caught up in volatility last week, with orders ploughing into the debut sustainable bond issue.