ABN Amro
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Europe’s high grade corporate bond market is set for a glut of supply as companies appear to be loosening the capex purse strings once more. The only debate is about when it will come. With cash piles at near record levels, there is little agreement about when firms will need to fund spending with fresh debt, writes Mike Turner. -
Europe’s high grade corporate bond market bankers are expecting a rebound in issuance in the second half of the year, as macro data suggests business investment will soon pick up, whittling away at cash piles.
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Basic Fit, the Dutch low-cost gyms operator, has sold €204m of new shares to finance growth opportunities once its sites are permitted to reopen.
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Vi Davda has been promoted to a new role of head of UK debt capital markets at ABN Amro, as the Dutch bank looks to expand its business across UK financial institutions and corporate clients.
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Euronav, the Belgian tanker company, has signed a sustainability-linked revolving credit facility, as the shipping industry comes under increasing scrutiny over its carbon output.
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Slovakian lender Tatra Banka is hoping to launch its debut green bond in euros this week, with deal arrangers urging rare issuers to take advantage of quieter markets in the run-up to results season.
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Utmost Group, a UK life assurance group, has made a roughly £483m cash offer to buy high net worth investment platform provider Quilter International, with four banks lined up to provide debt for the deal.
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Shares in European FinTech IPO Company 1, a new blank cheque firm focused on financial technology in Europe, fell in trading on Friday following the company’s €415m flotation on the Amsterdam Stock Exchange.
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E.On, the German electricity company, became the second corporate issuer in as many days to issue green bonds in line with the draft EU Taxonomy. It matched Verbund by printing them flat to fair value.
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Former Commerzbank CEO Martin Blessing has unveiled plans for a new special purpose acquisition company focused on financial technology in Europe, becoming the latest European banking executive to launch a Spac.
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Hannover Re was able to price a new tier two through fair value on Monday, with analysts expecting the issuer to use its new bond to fund growth opportunities.
