Europe

UniCredit swept away the Landesbanks in the Schuldschein market last quarter to claim pole position so far this year, with an arranging market share of nearly 20%.

Renewable energy has been one of the hottest sectors in Europe’s equity capital markets in recent times but investors are no longer just buying companies for their verdant hue. Issuers must now prove they have the financial strength to back their environmental credentials.

A pair of European sovereigns hit the market on Tuesday, raising a combined €12.5bn. Austria launched a four and 50 year dual tranche, but it was the short leg that raised eyebrows, demonstrating demand exists even below the ECB deposit rate.

Turkey's central bank once again faces a critical rates decision this week. Any whiff of a cut in rates would be disastrous for the volatility-stricken country and its access to capital markets.

Air France-KLM has set the offer price for its €1bn capital increase following an accelerated bookbuild on Monday night.

Berlin Hyp has this week become the first financial institution to issue a sustainability-linked bond. Market participants were divided over whether the structure helped the issuer to achieve better deal terms, but the innovative trade will give other banks an important example to follow.

DZ Hyp raised €1bn of eight year covered bond funding flat to its curve on Tuesday in what bankers called a ‘textbook execution’.

Georgia is returning to the bond market after its existing dollar notes matured just days ago.

Nexity has returned to the equity-linked market with the sale of a new €270m seven year convertible bond.

Santander has lost a covered bond trader to Barclays, which itself is in the market for a covered bond analyst after losing two recently.

Sovcomflot, the shipping company majority-owned by the Russian state, is planning to enter the debt capital markets. But the dollar bond mandate comes at a tricky time as military escalation between Russia and Ukraine has caused investor confidence of assets on both sides to fall.

Allfunds, the UK-based business-to-business funds platform that is listing in Amsterdam, is making a strong impression among investors that are leading the talks on valuation, according to a number of sources. The deal is one of a number of IPOs being circulated to buyers.