Europe

Münchener Hypothekenbank (MunHyp) is introducing commercial paper to its existing Ecological ESG Pfandbrief programme.

The IPOs of private equity-owned French glassware maker Verallia and of state-owned Française des Jeux (FDJ), the national lottery operator and sports betting company, are both attracting healthy interest in pre-marketing, but sources have expressed some concern that one deal could be taken off the table.

This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes.

SDIC Power Holdings will be the second Chinese company to list in London through the Stock Connect scheme with Shanghai, after a China regulator approved the deal.

Juan Rodriguez Andrade will join Bank of America Merrill Lynch next month to lead equity-linked business for Europe, the Middle East and Africa.

Swissport, the world’s largest provider of cargo and airport ground services,has increased the loan portion of its debt raise at the expense of bonds amid a volatile August market.

Covered bond supply is expected to improve from the final week of August, and with more than 90% of the market now trading with a negative yield, a sustained wave of negative yielding issuance is now unavoidable.

Fabrizio Saccomanni, chair of UniCredit, has died at the aged of 76.

Burford Capital’s debt and equity securities rebounded on Thursday, after the firm rebutted claims from short seller Muddy Waters Research that it was "arguably insolvent". The episode brought some rare excitement to the sterling retail bond market, but is perhaps emblematic of its decline over the past few years. Meanwhile, investors appeared undecided over whether Muddy Waters’ claims about the litigation funder were correct.

International banks should stand their ground and continue lending to Russian borrowers. The weak, ineffective sanctions that the US rolled out last week have not affected Russia’s creditworthiness and some even argue that investors in the country face fewer risks than they did two weeks ago.

Poland's Bank Pekao is planning to tap the Eurobond market for the first time in 2020, in order to set down a senior benchmark for the subsequent issuance of capital ratio raising bonds, according to Pawel Rzezniczak, head of investor relations and corporate development at the bank.

Issuers are set to gravitate towards selling higher yielding regulatory debt in the post-summer issuance window, so that they can attract investors and compensate for low overall interest rates. But FIG bankers are unsure what concessions will be needed to get deals away.