Europe

The EU on Monday announced the mandate for its second jumbo Next Generation EU deal, which includes four banks who were suspended for the first transaction for violating antitrust rules.

National Australia Bank priced an €850m seven year Australian covered bond on Monday, comfortably inside recent deals from New Zealand and opted against issuing a larger deal size at a wider spread. At the same time, Credit Emiliano mandated leads for another euro benchmark.

Alpha Bank, the Greek banking group, has begun bookbuilding for its €800m share sale intended to strengthen its balance sheet as it enters a new stage of growth following the clean-up of Greece’s banking sector since the eurozone crisis.

GlobalCapital is preparing to launch its Covered Bond Awards for 2021 and welcomes feedback from the market around which achievements should be recognised.

Citi has appointed two co-heads of EMEA consumer products investment banking in London and a head of global luxury investment banking in Milan.

Greenvolt, the Portuguese biomass energy operator, is preparing to go public on the Lisbon stockmarket, having announced its intention to float this week.

Several FIG issuers across CEEMEA entered bond markets to raise cash this week. Meanwhile, the pipeline for bank issuance is strong as issuers take advantage of attractive market conditions to bolster reserves.

Wells Fargo hires Marriott from NatWest Markets — Créd Ag MD to join BNP Paribas SSA desk — SEB SSA DCM head off to New York — AFT hires funding official from Crédit Foncier — Citi promotes CEEMEA debt bankers — HSBC AM adds EM debt portfolio manager — EM seller heads from Credit Suisse to Barclays — Deutsche Bank hires head of US CLO syndication from JPM — Senior securitized product banker leaves Barclays — USSIM poaches BlackRock head of European ABS — Together treasurer departs for Pepper — Barclays poaches from JP Morgan for real estate IB push — Barclays hires from MS for head of Nordic banking

Rating: A3/AA-/A

Three covered bonds issued this week from Korean Housing Finance Corp, Caffil and Oberbank were well received, but they would not have made it over the line without attractive new issue concessions.

BNP Paribas printed its first green bond in dollars this week, as banks cranked out deals and activity nearly touched on last year’s pandemic-induced volumes.

Anadolu Efes, the Turkish brewer, returned to the market this week to issue a new bond and launch a tender for its dollar debt. Investors say it is one of the more attractive credits from the country, despite domestic economic volatility.