Banks
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Large European banks shifted their funding focus to the dollar market this week, printing stunning deals as the euro market showed it was more sensitive to signs of tighter monetary policy. Tyler Davies reports. -
Barclays is aiming to bring its continental European corporate finance business in line with its strength in the UK and North America after receiving a resounding vindication of its strategy, writes David Rothnie.
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Wemag, a state-owned electricity firm in Germany, has launched a 10 year Schuldschein through NordLB’s digital platform, Finpair. Wemag follows two Austrian utilities in supplying deals at a longer tenor.
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Europe’s high grade corporate bond issuers had a second tough day running on Thursday, as secondary spreads inched wider and investors proved lukewarm to new issuance.
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SMBC Nikko has hired Markus Steilen as managing director and head of continental European debt syndicate, based in Frankfurt. Steve Apted remains head of syndicate in London.
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Citi has picked global head of trade Ebru Pakcan to be its new head of EMEA emerging market coverage.
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A group of Italian insurance executives have teamed up to launch a new special purpose acquisition company on the Alternative Investment Market of the Borsa Italiana. The €200m IPO is due to close later today.
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Deutsche Bank is bringing in Daniel Ross from Barclays to oversee its investment banking activities in the UK and Ireland, taking over from Scott Bell, who is moving into a chairman post.
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Financial institutions will have a tough time issuing sustainability-linked bonds (SLBs), according the head of BBVA’s corporate and investment bank, who said at a conference on Thursday that she expected banks to focus more on debt with a dedicated use of proceeds.
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Banco de Crédito Social Cooperativo (BCC) was able to increase the size of its latest tier two offering to €600m, after attracting a number of new accounts to a deal that will fund the repurchase of its existing deals in the format.
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The Polish oil refiner and petrol retailer PKN Orlen launched its debut green bond on Thursday. The trade is one of the very first of its kind from an oil company.
