Europe

The renminbi qualified foreign institutional investor (RQFII) scheme is set to end 2016 on a disappointing note with the combined value of quotas awarded amounting to roughly half of last year’s total.

UniCredit announced this evening a set of capital requirements given it by the European Central Bank. Tomorrow it will hold a capital markets day in London at which Jean-Pierre Mustier, who took over as its CEO in July, will announce his strategy, including towards the bank’s capital position.

Amundi’s shares closed at a record high on Monday, up 5.4%, after it announced it would use a €1.4bn rights issue and €600m of senior and subordinated debt to buy Pioneer Investments from UniCredit.

The head of leveraged finance at M&G Investments, one of the longest serving fund managers in the European levfin market, is to retire at the end of this year after 12 years at the firm and 38 in the wider industry.

Italy’s new prime minister Paolo Gentiloni has the opportunity to provide a strong boost to Italian bonds if he acts swiftly, according to Pioneer Investments.

Daimler, the German car maker, on Monday issued into a sterling market that remains stable despite the ripples from this year's shock Brexit vote.

Calcium aluminate maker Kerneos has cancelled its proposed €445m term loan ‘B’ refinancing deal, with French industrial minerals maker Imersys set to buy the firm from sponsor Astorg Partners.

IHS Markit has added CME Clearing to its MarkitSERV netting synchronisation service for cleared over-the-counter derivatives.

On the day that KfW released its funding target for 2017, GlobalCapital caught up with Petra Wehlert, the agency’s head of capital markets, and Alexander Liebethal, head of new issues, capital markets, to find out more about its issuance strategy for next year.

Banca Monte dei Paschi di Siena may re-open its debt-for-equity swap for retail investors, as part of a last-ditch attempt to complete its rescue plan and prevent its bondholders suffering losses in a bail-in.

Crédit Agricole looks set to issue its first ever senior non-preferred bond this month, after Sapin II was finally passed into French law on December 11.

Philips is set complete the divestment of its lighting businesses next year, with US private equity firm Apollo Global Management agreeing to acquire its Lumileds LED unit at a $2bn valuation.