Banks

HSBC’s quest to gain market share in investment banking took another turn this week with the latest revamp of its corporate finance structure in the US, which took place against a backdrop of relocations and reshuffles around the world, writes David Rothnie.

Ferrovie dello Stato Italiane, the Italian state-owned railway company, has refinanced its main bank line, bumping up the size to €2.5bn as the company earmarks some of the money for capital expenditure.

The ESG loan market has had a busy week, with Swedish ingredients company AAK and German container shipping firm Hapag-Lloyd agreeing sustainability-linked and green debt.

Barclays has poached a leading real estate investment banker from JP Morgan in a move rivals say could lead to shift in banking relationships.

Italy brought a rare format to market on Thursday, selling its first syndicated CCTeu floating rate note in over a decade to extend its curve in this format of issuance.

Animal healthcare company Huvepharma has opened the books on its €463m IPO on the Amsterdam Stock Exchange.

Glarner Kantonalbank dipped into the tier two market this week to raise an index eligible bond that may fund the redemption of the additional tier one (AT1) the bank rolled over in December due to coronavirus volatility. GLKB was joined on screens by a flurry of financial activity out of Chile.

Generali was in the market for a tier two bond with a sustainability label on Thursday, its first issue from its newly minted framework.

ING Turkey, a subsidiary of the Dutch banking group, has signed an ESG-linked syndicated loan, making it the latest Turkish lender to embrace labelled debt, a trend that bankers insist is motivated by a commitment to sustainability and not simply an attempt to lower pricing.

Burcu Korkut, an experienced EMEA emerging markets fixed income salesperson, is leaving Credit Suisse for a leading role at Barclays.

Morgan Stanley managing director Tobias Åkermark is leaving the US firm to become head of Nordic banking and country CEO for Sweden at Barclays.

Ferrovie dello Stato Italiane, the Italian state-owned railway company, has refinanced its main bank line, bumping up the size to €2.5bn as the company earmarks some of the money for capital expenditure.