Europe

Italy hit screens on Monday to announce a dual-tranche syndicated deal comprising a new 10 year benchmark and 30 year inflation-linked bond.

Mercuria has launched a US private placement deal, according to market sources. The privately-owned Swiss commodity trader is the third company to enter the PP market from Europe this year.

Feeble bank lending figures suggest that some European banks will not be able to tap the ECB's Targeted Longer-Term Refinancing Operations (TLTRO) at the cheapest rate on offer. For those institutions, covered bond funding will become a compelling alternative.

Česká zbrojovka Group (CZG), a Czech firearms company, has mandated banks to arrange a local currency bond, which investors say is a developing trend. The bond will contribute to CZG’s planned acquisition of US arms major Colt.

Universal Music, the international music company owned by Vivendi, will be spun off on the Amsterdam stock exchange, with the French firm distributing around 60% of the company to its shareholders.

Cordiant Digital Infrastructure Ltd, a new fund focused on opportunities in digital infrastructure, has finished its IPO on the London Stock Exchange, raising £370m.

Fix Price, the Russian owner of discount variety stores, filed initial paperwork for listings in London and Moscow on Monday. The company gives investors a very different sort of offering than recent European tech listings but is still providing buyers with huge growth metrics.

One of Europe’s largest self-storage companies Shurgard has priced a new €300m US private placement, according to market sources.

Robert Karofsky will be the sole president of UBS's investment bank once his colleague Piero Novelli leaves the firm at the end of next month.

This week's funding scorecard looks at the progress Europe's supranationals and agencies have made in their funding programmes in the middle of February.

The Spac craze that has swept US stock markets has spread to Europe with a new vehicle called Pegasus set to be listed in Amsterdam. The Spac is led by former UniCredit CEO Jean-Pierre Mustier, LVMH founder Bernard Arnault and Tikehau Capital and is expected to prompt a wave of new issuance, according to sources speaking to GlobalCapital.

This week in Keeping Tabs: an opportunity for the UK's finance sector after Brexit, and an argument for why you shouldn't worry about the stock market.