Europe

The euro market has been markedly calmer than last week after ECB president Christine Lagarde made remarks interpreted as dovish — but investors are still split on the direction of interest rates and bankers are concerned this could hurt demand for primary bonds.

Digital 9 Infrastructure, the UK investment trust focused on digital assets, has launched its first follow-on offering of stock since its £300m IPO on the London Stock Exchange in March.

Investors have turned against Belarus after an opposition blogger and journalist was arrested by authorities on Sunday in extraordinary circumstances, with the country's dollar bonds dropping sharply on Monday morning.

UBS was set to issue three tranches of dollar debt through its operating company on Monday, as it sought to tap into a strong pool of demand for short-dated bank issuance.

Volatility subsided amid a series of public holidays in Europe on Monday, raising hopes for a busier week of bank bond supply.

UniCredit will skip a coupon on one of its legacy capital instruments this month, after stating that a net loss in 2020 means it no longer needs to make the payment. Investors were surprised by the decision, which many saw as a U-turn.

Brussels jumped into the long end this week, printing the longest MTN in over a month.

The city of Moscow is set to issue green bonds within the week, following the sovereign’s return to the Eurobond market on Thursday. The issuer is seeking foreign investor interest in its rouble-denominated green debut.

Kartesia, the alternative asset manager known for financing small to mid-cap companies, has raised its fifth private debt fund mandated to look for deals beyond private equity sponsors.

hGears, the German maker of precision gears for e-mobility, kept its head above water in trading on Friday after the company’s €173m IPO on the Frankfurt Stock Exchange, against extremely difficult market conditions.

Barclays has hired a managing director from Standard Chartered in London to cover fintech clients in EMEA.

The family of Heinz-Herman Thiele, the late German billionaire industrialist, sold over half their stake in Deutsche Lufthansa, the German flag carrier, via an accelerated bookbuild on Thursday night.