Banks

Portugal was awash with demand as it came to the market on Wednesday for a new 30 year euro benchmark, following well-received syndicated deals from Belgium and Finland on Tuesday.

Telefónica, the Spanish telecommunications company, showed the depth of demand for green hybrids on Wednesday, with a seven times oversubscribed trade that came a day after a similarly successful deal from compatriot issuer Iberdrola.

Cellnex, the Spanish telecoms infrastructure company, has returned to the equity capital markets with a huge €7bn rights issue to finance its acquisition of French competitor Hivory from Altice and KKR.

Nomura said that net revenues in its investment banking business for the last three months of 2020 were the highest in nine years. Yet while it was a good quarter overall for the firm's wholesale business, revenue fell year on year in Europe, the Middle East and Africa.

Companies with high carbon emissions are preparing for the risk that they could have to pay more to access capital markets, if investors and banks retreat from fossil fuel-heavy businesses, and even divest altogether — as Aviva has threatened to do. Some issuers will use investor relations drives and labelled financings, but ultimately they will have to find common ground with investors on how to transition to low carbon.

BayernLB was able to close the books on its debut green bond after only three hours on Wednesday, as investors piled into the tightly priced transaction.

The Italian fashion house Tod’s has signed a €500m sustainability-linked loan, as environmentally conscious financing continues to infiltrate the infamously wasteful fashion industry.

Throughout these uncertain times, UniCredit is providing a point of reference for the CEE, thanks to our strong commitment to supporting clients and the region.

UniCredit’s Central & Eastern Europe (CEE) division was aware of the threat of Covid-19 early on, and took decisive measures to mitigate its impact.

China Industrial Securities Co priced its $300m bond at a tighter level than expected due to support from its hefty syndicate team, defying concerns even among some of the banks on the transaction whether the issuer would hit its funding target.

Lippo Malls Indonesia Retail Trust printed a $200m bond on Tuesday, with investors largely brushing off concerns about the hit to the borrower's business during the pandemic.

Chinese biopharmaceutical duo WuXi Biologics (Cayman) and InnoCare Pharma raised a combined HK$16.2bn ($2.1bn) on Tuesday from selling new stock.