Europe

HSBC has reorganised the management of its public sector debt capital markets business following the departure of Frédéric Gabizon at the end of March after a 35 year stint at the bank.

Bankers expect the European Union to come with its second Support to Mitigate Unemployment Risks in an Emergency (SURE) transaction of the year next week with the issuer planning to raise up to €20bn more in the first quarter.

Bank Nederlandse Gemeenten hit the market for a sterling trade on Monday, securing its cross-currency swap hedge in advance to minimise volatility.

Bond Origination Technologies (Bots), a new tech company that aims to automate pricing indications in the primary debt capital markets, has made two hires as it prepares to launch its first live pilot in the second quarter.

NN Bank has mandated leads for a 20 year covered bond amid improved hopes of an increase in supply, as banks emerge from blackout to take advantage of the recent rise in yields.

Fix Price, the Russian discount retailer, has confirmed its intention to float in London and Moscow, paving the way for a $1bn-plus IPO.

EP Infrastructure, the Czech Republic-headquartered energy infrastructure group has mandated banks to syndicate a bond in euros. Though much of supply from the CEE region last year came from sovereigns, market participants believe now is a good time for corporates to issue in debt markets.

BPCE found plenty of demand for a long-dated senior deal in euros on Monday, even as secondary spreads drifted wider.

Shares in Lakestar Spac I, a new special purpose acquisition company backed by German venture capitalist Klaus Hommels, have surged by more than 11% in the aftermarket after they began trading on the Frankfurt Stock Exchange on Monday.

Société Générale tapped into strong demand for 20 year tier two debt in the dollar market this week, following examples set by BNP Paribas and Crédit Agricole earlier in the year.

UK pub and restaurant group Mitchells & Butlers has fixed the terms for its £350m recapitalisation, which is intended to repair its shattered balance sheet after the third UK lockdown forced further closure of its venues.

A report that Jana Hecker, global head of equity syndicate and equity capital markets at UniCredit, had worked privately for Markus Braun, the imprisoned former CEO of Wirecard, stunned UniCredit employees on Friday afternoon when it appeared in the Financial Times.