ING

Nykredit Realkredit did not need a premium to launch a new non-preferred bond in euros on Thursday, with spreads in the asset class having now returned to where they were before the start of the coronavirus pandemic.

Deal arrangers expect banks will take advantage of a positive tone in the euro market by bringing forward their plans for non-preferred senior issuance, following in the footsteps of CaixaBank and ING Groep on Tuesday.

Vattenfall, the Swedish energy company, has swapped its €2bn bank line with a sustainability-linked facility, with the deal defining the borrower’s core banking group.

Trainline, the UK train ticket booking company, has warned that there is a risk of a covenant breach on its £350m revolving credit facility, despite lenders already agreeing not to test the covenant until August 2021.

The Dutch arm of Air France-KLM staved off what looked like certain collapse this week, with the company negotiating a deal with a pilot’s union to put a vital €3.4bn government bailout back on course.

The Dutch arm of Air France-KLM has negotiated a deal with the country's pilot’s union, putting a vital €3.4bn government bailout back on course.

Moody’s gave Deutsche Bank a ‘stable’ outlook for its ratings this week, helping the issuer feel more positive about its funding costs.

Bank bond spreads have moved tighter on the secondary market over the last two days, driven in part by a lack of supply and the prospect of a victory for Joe Biden in the US presidential election. But not all segments are seeing gains, as investors are still shying away from riskier paper amid uncertainty around the vote.

ING has appointed Uday Sareen as head of wholesale banking for Europe, the Middle East and Africa.

Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong. The company built two mammoth order books despite a turbulent week for equity markets globally — although that created serious challenges for bankers allocating the stock. Jonathan Breen reports.

European banks could be set for a wave of calls and tenders on legacy debt instruments, after the European Banking Authority demanded a clean-up this week. Action may not be immediate, however, with markets still seeking clarity on a number of key issues.

Aedifica, the Belgian real estate company that specialises in care homes for the elderly, has secured an 83.7% take-up for its €459m rights issue.