Europe

The European Central Bank is not expected to sketch out the future of its Pandemic Emergency Purchase Programme (Pepp) until the fourth quarter of 2021, according to analysts.

Turkish renewable energy company Aydem Yenilenebilir Enerji launched its debut bond on Monday, a green dollar offering.

RBC Capital Markets has hired three women to its European global equity sales business at director level in London and Frankfurt.

France’s IPO renaissance is expected to keep up the pace in the second half of the year, aided by the strong performance of French equities and a rebounding economy.

The People & Markets section of GlobalCapital could almost have been called the Barclays section this week, given the number of stories that involved the bank. What has been going on?

The Bank of England said this week that lenders with £15bn-£25bn in assets should still be subject to the minimum requirements for own funds and eligible liabilities (MREL), despite calls from the industry to raise the threshold. The Old Lady will, however, give new and growing firms longer to comply with their targets.

Guarantor: Federal State of North Rhine-Westphalia

The European Central Bank made a bold change to its monetary policy on Thursday, effectively pushing any prospect of interest rate hikes into the distant future, making them unlikely before the middle of the decade. Frank Jackman, Lewis McLellan and Burhan Khadbai report.

Communication is the only real policy tool where the European Central Bank still has wiggle room.

Rating: Aa2/—/AA

Bridgepoint Group, the UK private equity firm completed a £907m IPO on the London Stock Exchange this week and surged in trading on its first day. Investors said the reason for the deal’s popularity was that it was too cheap to miss out on. But banks, which will look to bring a large number of IPOs in the autumn, are worried that not all issuers will be as accommodating as Bridgepoint, writes Sam Kerr.

Borrowers should be encouraged by the recent performance in credit, which has held rock steady amid rising uncertainty.