Europe
-
Crédit Agricole Cariparma is expected to issue the first Italian covered bond of the year after it mandated leads for an eight and 12 year which is likely to be launched on Tuesday. The offering takes advantage of technically squeezed market conditions exacerbated by the lack of peripheral European supply. -
UBS found healthy demand for a new €1.75bn callable floating rate note on Monday ahead of an eventful mid-week, following Goldman Sachs and Wells Fargo into a strong market for total loss-absorbing capacity (TLAC) eligible floating rate bonds.
-
Croatia’s revived euro benchmark had received orders of €2.75bn and seen its order books shut by lunchtime Monday with the country having enjoyed a ratings agency boost on Friday to defy any fears of being overshadowed by Kuwait’s sovereign deal, which was also in the market.
-
Unperturbed by softer markets of late, Russian steel firm Evraz was on track to print a bullish six year bond on Monday morning.
-
Shares in Segro, the UK property developer, closed 6% lower on Friday after it announced a £556m rights issue to finance its buyout of Aviva from a joint venture at London’s Heathrow Airport.
-
Aumann Group, the German maker of wire enamelling and electric motors for cars, has opened the book for its Frankfurt IPO, which could value it at up to €257m.
-
Volksbank Wien could be preparing to launch its first publicly syndicated euro covered bond after Moody’s published a presale report and assigned a top rating to its covered bond programme on Thursday.
-
Bain Capital has completed its second block sale of shares in Ibstock, the UK brick maker, since its £354m IPO on the London Stock Exchange in October 2015.
-
If there was ever an idea whose time has come, it is green securitization. Action to green the economy is super-urgent, and progress so far has been worryingly slow.
-
The revival of banks using securitization to free up regulatory capital could open new possibilities for accelerating the financing of a greener economy, as a ground-breaking deal demonstrated this week, write Jon Hay and David Bell.
-
-
