Europe

Neoen, the French renewable energy company, launched a €600m rights issue on Tuesday to fund its investment pipeline. Sources close to the deal are confident of its success.

Sustainability is likely to have a pivotal place in prudential discussions and properties secured on energy efficient mortgages could be in line for more favourable treatment than vanilla ones, the European Covered Bond Council and European Mortgage Federation’s secretary general, Luca Bertalot told GlobalCapital.

French electronics store Fnac Darty has completed the sale of a new €200m seven year convertible bond.

Swiss Steel, the Swiss steel company formerly known as Schmolz + Bickenbach, has finished its Sfr247m at-market rights issue, following a rump placement on Monday night.

Deliveroo, the UK takeaway delivery company, is pressing ahead with its IPO and has started formal investor education this week, despite heavy selling in technology stocks injecting more volatility into the market.

Agence France Trésor (AFT), the French sovereign debt office, mandated banks on Monday to lead the sale of the sovereign’s second green OAT, returning to the market for the first time since its debut in 2017.

Barclays gave euro investors a rare chance to buy UK bank capital on Monday, as the issuer selected the currency for its second tier two of the year. Its €1bn transaction was four times subscribed at final terms.

MUFG has for the first time chosen a single leader for its banking and securities divisions in EMEA. John Winter will take the post from April 1, meaning that the most senior executive in EMEA will be non-Japanese for the first time.

Paragon Banking Group is looking to issue a new debt capital instrument in green format, while at the same time offering holders of its existing tier twos a chance to exchange their bonds for cash.

Former Commerzbank CEO Martin Blessing has unveiled plans for a new special purpose acquisition company focused on financial technology in Europe, becoming the latest European banking executive to launch a Spac.

Berlin Hyp mandated leads for a rare green Pfandbrief on Monday. The deal has emerged amid a dearth of covered bond supply so far this year and takes advantage of a recent stabilisation in yields at higher levels.

GV Gold, the Russian gold miner, has launched an IPO on the Moscow stock exchange with sources close to the deal saying that 2021 is an opportune time for the miner to go public.