Raiffeisen Bank International AG

Play, the Polish mobile network operator, has raised a syndicated loan from European banks, according to sources, while total volumes from central and eastern Europe’s biggest economies have been low so far this year.

FACC, the Austrian aerospace components company, has amended the financial covenants on its syndicated loan, as large chunks of the EMEA airline sector continue to renegotiate debt tests.

Volksbank Wien sold its first non-preferred senior deal on Friday, after a week of discussions with investors. The deal benefitted from a stronger tone in the euro market as investors reacted well to the latest meeting of the European Central Bank.

A flurry of Swiss franc issuance dusted the market this week, as domestic and foreign borrowers entered a more settled market.

The financial primary market paused on Wednesday. Despite euro borrowers enjoying oversubscribed order books this week, demand in the secondary market is lagging behind, as investors await further rises in yields.

Intesa Sanpaolo saved a couple of basis points with the sale of a new senior bond from its green issuance framework on Tuesday, compared to fair value on a conventional deal. The new issue came as markets remained on edge ahead of the European Central Bank’s next meeting.

FIG issuers are taking care to announce deals before opening order books this week, as they try and book their places in the market ahead of a tricky meeting for the European Central Bank on Thursday.

Belfius Bank and Santander found strong support among bank treasury investors in the euro market this week, helping them to print new preferred senior deals at very low yields.

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A pair of Austrian banks kept a quiet senior euro market ticking over earlier this week. Erste targeted price over size with a new senior deal, while Oberbank attracted a granular orderbook on its first visit to the non-preferred market.

The decline in international and debut Schuldschein issuance last year had a disproportionate impact on non-German bank arrangers. But this year’s bright start has given them a new lease of life.

Oberbank sold its first senior non-preferred bond on Tuesday. The issuer's investor work paid off as more than 70 accounts poured into the sub-benchmark deal, which was almost two times covered.