Europe

The European Commission has sent a letter of formal notice to Germany in response to the Federal Constitutional Court’s ruling on the Public Sector Purchase Programme in 2020.

Georgian Railway steamed into the green bond market on Thursday, raising a benchmark dollar bond.

Österreichische Kontrollbank (OeKB) will be ready to issue floating rate notes linked to the recommended new risk free rates in sterling and dollars in the third quarter of 2021.

Europe’s equity-linked bankers are focusing on bringing more traditional issuers back to the market following a rotation in equities out of high growth technology stocks and into companies that stand to benefit from the post-pandemic economic reopening.

Habeck returns to syndicate at SMBC — Deutsche appoints co-heads of Americas ECM — JPM sends levfin bankers to US — Elfring lured out of retirement — Barclays hires CLO syndicator — Eagle Point snags head corporate trader

Basic Fit, the Dutch operator of low-cost gyms, has issued a €303.7m convertible bond as it prepares for growth opportunities following the reopening of all of its fitness centres this week following more than a year of lockdowns caused by the pandemic.

Moody’s has published a request for comment regarding a proposed change in its rating methodology that could improve the rating stability of Swiss structured covered bonds. This could in turn give regulators another reason to consider updating the country’s legal framework.

The German state of Hesse was marketing its new green bond framework this week ahead a of a debut deal in the format.

Believe, the French digital music company, completed its Paris IPO on Thursday morning but the shares bombed in their first hours of trading in another blow for European listings. However, sources close to the transaction were still pleased to get the deal across the line in what they saw as a boost for the French IPO market after another sizeable listing was pulled last week.

Georgian Railway and Togo-headquartered Ecobank Transnational launched a green bond and a sustainability-linked bond, respectively, on Thursday.

Octopus Renewables Infrastructure Trust has unveiled plans for a £100m share sale amid a swathe of fundraising by London-listed investment trusts.

The Instituto de Crédito Oficial, Spain’s promotional bank, is holding a series of investor meetings to promote a new green bond.