Rabobank

Shares in Avantium, the Dutch renewable chemicals company, closed 3.6% higher on Wednesday after it made its debut on the Amsterdam and Brussels exchanges following the completion of its €103m IPO.

Public sector borrowers will take a pause from primary this week as they dodge possible volatility during a week riddled with political and economic risk events in three major currencies.

The €90m IPO of Avantium, the Dutch renewable chemicals company, was covered at its maximum size including the 15% greenshoe on Wednesday, less than three working days into the bookbuild.

Swiss commodities trader Ecom is back in the market for a one year revolver, mandating four banks for the $400m borrowing.

Finnish technology company Nokia is set to become the first European company to issue a euro high yield bond for four weeks. Meanwhile, UK food producer Bakkavor will repay all its notes.

A number of financial institutions have distanced themselves from the primary market for additional tier one (AT1) bonds this week, but there is no doubting that the asset class has been on fire in 2017. It is only a matter of time before supply restarts, and Spanish banks will be first in line, writes Tyler Davies.

Silgan Holdings, a maker of consumer goods packaging in the US, this week priced the first cross-border high yield deal of 2017 as it plans to repay term loans.

The Dutch covered bond issuer, Van Lanschot Bankiers has mandated leads for the first 10 year covered bond in nearly a month and the first Dutch conditional pass through (CPT) since May 2016. The deal emerges following a Fitch survey suggesting investors would like to see price differentiation between soft bullet and CPT maturities.

MET Group, the Swiss headquartered multinational energy firm, closed a €560m dual-tranche revolver on Wednesday evening that bankers said will be used to shore up its enterprises in eastern Europe.

Multinational food company Sigma Alimentos is preparing ground for what is likely to be the first new issue from a Mexican borrower since Donald Trump became president of the United States.

VodafoneZiggo obtained the go-ahead from leveraged loan investors on Tuesday to increase the size of its refinancing deal by more than €2bn while cutting margins.

Primary activity in the European leveraged loans market is off to a stuttering start this year, with only a few small deals launched and larger borrowers either yet to appear or set to forego the market.