Banks

Italy and the European Investment received combined orders of over €50bn in the euro public sector market on Tuesday before what could be an even more uncertain period in Europe, with the UK parliament set to vote on prime minister Theresa May’s Brexit withdrawal agreement later in the evening.

Public sector borrowers printed over $10bn of bonds on Tuesday in a dollar market that SSA bankers expect to keep its momentum in the weeks ahead.

Gefco, the French logistics company owned by Russian Railways, has kicked off pre-deal investor education (PDIE) for its flotation on Euronext Paris, reopening the IPO market in Europe in 2019.

Deutsche Bank returned to the covered bond market to issue a perfectly choreographed Pfandbrief. The deal was launched into a relatively quiet market and quickly attracted strong demand, enabling leads to set terms very early in the day despite underlying market concerns.

Zegona, the London-listed investment fund focused on telecoms, media and technology assets, has raised £100.5m ($130m) of fresh capital to fund a stake build in Euskaltel, the Spanish telecommunications company.

Mitsubishi UFJ Financial Group has appointed Jason Mann as European head of financial institutions DCM, a role which will be based in a branch of the bank’s new subsidiary, established to prepare for Brexit.

Dubai Islamic Bank finishes the roadshow for its additional tier one bond on Wednesday. The market is eagerly awaiting pricing details and though no call has yet been confirmed, bankers and investors are expecting the bank to redeem its outstanding tier one in March.

SEB has selected a new head of equity capital markets following Artem Kosenko’s move across to debt capital markets.

Financial institutions have largely shied away from raising debt in the euro market this week, despite a general improvement in financing conditions. With banks cautious about a number of possible risks to market stability, issuance volumes could be set to remain subdued.

JP Morgan said on Monday that it had hired Burkhard Koep, Altice’s head of M&A and business development, to co-run EMEA TMT investment banking, alongside Hugo Baring.

First Abu Dhabi Bank’s five year sukuk benchmark, which has raised a book of $2bn so far, is prompting renewed discussion over fair representation of joint lead manager interest in Middle East bonds.

China’s activity in central and eastern European (CEE) lending and investment is set to swell further in 2019, as its banks and other financial institutions extend their reach.