Banks

Citi has picked global head of trade Ebru Pakcan to be its new head of EMEA emerging market coverage.

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.

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.

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.

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.

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.

Credit Suisse equity capital markets veteran Stephane Gruffat is set to join Deutsche Bank, according to an internal memo seen by GlobalCapital.

A pair of infrequent euro borrowers, Virgin Money and SBAB Bank, tapped the market for €500m no-grow bonds on Thursday, landing deals at significantly tighter spreads compared with their last euro outings.

Crédit Agricole asked holders of its sterling additional tier one (AT1) to exchange their bonds for new notes on Thursday, which will recognise the regulatory order after Brexit and will reset the debt to pay to a rate based on Sonia rather than Libor.

Russia launched its first international bond of the year on Thursday, which some have labelled as a show of strength by the sanction-hit country. Market participants are now debating which investors will end up buying the trade.

Eurostar, the company that runs trains through the Channel Tunnel between London and Europe, has signed a £250m commercial financing package, months after it begged the UK government for bailout funding.

Angel Pond Holdings Corp, a special purpose acquisition company backed by Alibaba co-founder Simon Xie, has raised $250m from a New York Stock Exchange IPO.