Europe

Italy published its much anticipated green bond framework on Thursday, ahead of a debut green BTP later in 2021.

The transposition of the EU's Covered Bond Directive (CBD) into Spanish law is likely to be credit positive, according to a poll of delegates who attended the Association of Financial Markets in Europe’s 12th annual Spanish Capital Markets Virtual Conference on Thursday.

Croatia was set to price a bond in euros on Thursday, following two other EM sovereign issuances in the currency this week.

Schuldschein agents have begun offering borrowers delayed draws in a bid to increase the product's value as a funding option. Many investors are wary of the prospect of deferred funding but are also desperate for supply.

NatWest has promoted Carla Floyd to head of debt and financing solutions — a newly created job that sits in its ringfenced bank but nonetheless effectively involves running debt capital markets origination for corporate clients.

The Financial Stability Board is looking into how banks have used their capital and liquidity buffers during the coronavirus crisis and expects to publish a report containing some of its ‘preliminary’ findings in July.

A sell-off on Wall Street this week has left many wondering how far the equity rally can go before rising inflation spoils the party for innovative companies. But a big pipeline of tech IPOs is still set to emerge.

Two top tier SSA borrowers hit opposite ends of the curve on Wednesday. Asian Development Bank launched a trade at the 10 year tenor, braving a sharp sell-off in US Treasuries. KfW appeared at the short end of the curve where only a handful of borrowers have printed this year.

The European Union will dominate the euro public sector bond market next week after sending banks a request for proposals (RFP) on Wednesday for its second Support to Mitigate Unemployment Risks in an Emergency (SURE) transaction of the year.

UniCredit’s global head of equity capital markets and equity syndicate has left the bank after allegations of having done inappropriate side work for Markus Braun, former CEO of the collapsed Germany payments company Wirecard.

Raiffeisenlandesbank Vorarlberg launched a 15 year covered bond on Wednesday that was three times subscribed and priced flat to fair value. It suggested that investors were eager to catch higher yields before they disappear.

Serbia entered the bond market on Wednesday to sell a bond in euros, after entering both dollar and euro markets last year. Fellow Balkan sovereign issuer Croatia is expected to follow it, tapping investors as early as Thursday.