Europe

Laurentian Bank has received approval from Canada Mortgage and Housing Corporation to establish a C$2bn legislative covered bond programme.

The IPO of Allfunds was covered well in excess of the deal size on Thursday morning, proving that some deals in the European IPO market still attract strong demand.

The Single Resolution Board said this week that it could only get behind a "hybrid model" for the European deposit guarantee scheme (EDIS) if it forms part of a temporary solution on the way to establishing a fuller framework.

Canadian Imperial Bank of Commerce returned to the euro covered bond market for its first deal since March 2020, issuing a highly subscribed €1bn eight year flat to fair value on Thursday.

Commodity trader Trafigura has sold US private placements, according to market sources, in its sixth issuance in the market.

A campaign by a political opposition party questioning the deployment of Turkey’s FX reserves and a snub from the United States has put new pressure on the country’s bonds.

Let history show that even though no one even kicked a ball in the European Super League, it still had a winner: JP Morgan.

Credit Suisse has placed Sfr1.7bn ($1.9bn) of mandatory convertible bonds to repair its balance sheet, following steep trading losses caused by the bankruptcies of Archegos Capital and Greensill Capital. But some predict the bank may need to return for more equity down the line.

The new boss of UniCredit is widely expected to use his deal-making skills to transform the Italian lender, but will he look to revitalise its corporate and investment bank, asks David Rothnie.

CaixaBank has named the former head of long term funding at Bankia as its head of debt capital markets.

Germany’s Federal Constitutional Court said on Wednesday that it will not block the ratification of how the EU finances its budget, meaning the bloc will likely be able to start borrowing to fund its pandemic recovery fund in July.

DIC Asset, the German commercial real estate company, has sold €250m worth of Schuldscheine. The debt’s margin is tied to the sustainability of the borrower’s property portfolio.