Europe

Fix Price, the Russian discount retailer, became a public company at the beginning of March in a $1.9bn IPO on the London Stock Exchange. Its CFO Anton Makhnev sat down with GlobalCapital to discuss the deal.

The Italian treasury has announced plans to issue a third BTP Futura — a bond format that exclusively targets retail investors — in April, which will come with a 16 year maturity.

Play, the Polish mobile network operator, has raised a syndicated loan from European banks, according to sources, while total volumes from central and eastern Europe’s biggest economies have been low so far this year.

Fédération des caisses Desjardins du Québec (CCDJ) issued a rare and well subscribed five year euro covered bond on Tuesday, which was priced inside fair value. The outcome was similar to a recent deal from National Bank of Canada, but is not expected to boost supply prospects.

GV Gold, the Russian gold miner, has postponed its listing on the Moscow Stock Exchange as a difficult IPO market and falling prices in the precious metal force the company to rethink its plans.

Romain Miginiac, head of research at Atlanticomnium, says the European banking sector is emerging from the coronavirus crisis in surprisingly good shape. But he warns that the pandemic could still be very painful for certain institutions.

Cellnex, the acquisitive Spanish telecoms tower company, launched a €7bn rights issue on Thursday to fund its takeover of French tower firm Hivory from Altice and KKR.

Kommuninvest plans to issue a debut social bond to fund its new social sustainability loans, which were launched on Tuesday after a successful pilot phase.

Deliveroo, the UK food delivery company, has taken heed of investor fears of IPO congestion and has revised its the price range of its listing down to the bottom end of the range.

Russian borrowers are swarming the loan market despite a broader decline in emerging market loan volumes. Borrowers are pushing for tighter margins and longer tenors, as they grapple with the effects of the Covid-19 pandemic and fresh US sanction threats.

German semi-conductor business Infineon, which is Europe’s largest chip maker, has sold $1.3bn of US private placements, according to several market sources, in the largest trade from Europe in almost five years.

Segezha Group, the Russian paper and pulp company, is exploring a number of capital markets options to help finance growth. These include a green bond and a potential IPO, Rovshan Aliyev, vice-president of finance, tells GlobalCapital.