Europe
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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.
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Barclays has hired a managing director from Standard Chartered in London to cover fintech clients in EMEA.
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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.
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Hibernia, the real estate investment trust in the Republic of Ireland, has raised €125m of US private placement debt to develop new offices.
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Sovereign, surpranational and agency borrowers have endured a rough week in the euro market. Trust in the ECB’s support is flagging and inflation is threatening to return. It’s going to be a bumpy ride and issuers that can steer clear for now would do well to.
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Inflation fears are biting European markets just as investors seem to be losing confidence in the ECB's support of the market. The first bow waves of a European taper tantrum rocked rates this week as primary markets did their best to plough on. The European Union braved the volatility to land a colossal deal, while two covered bond issuers fared worse. Lewis McLellan and Bill Thornhill report.
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Muenchener Hypothekenbank (MunHyp) harnessed the growing demand for environmental, social and corporate governance (ESG) paper in the Swiss market to land a tap 7bp through the bid side this week. Elsewhere, Toyota ended a 12 year absence from the Swiss franc market to sell the currency’s first automobile deal of the year.
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Evidence suggests European lenders are a little too optimistic about the quality of their credit exposures after the pandemic.
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Large European banks shifted their funding focus to the dollar market this week, printing stunning deals as the euro market showed it was more sensitive to signs of tighter monetary policy. Tyler Davies reports.
