Europe

Nordex, the German wind-turbine developer, has raised €200m from the sale of 10.7m new shares to fund growth.

US direct lender Owl Rock has hired its first employee in London, as it seeks to develop its business in Europe.

The resignation of Jean Pierre Mustier as group CEO on Monday night has laid bare deep fissures between the senior management of UniCredit, which has been focused on serving the interests of shareholders, and members of its board, which want to reposition the bank as a servant of the Italian economy.

There are a lot of positive things to say about the European Union’s draft Taxonomy of Sustainable Economic Activities, but as far as buildings are concerned, its aims are too ambitious. Without a last minute reprieve, it risks killing the nascent market for green wholesale property finance.

Kommunalbanken, the financing agency for Norwegian municipalities, and L–Bank, the development bank for the State of Baden–Württemberg, built well covered order books as they brought what will likely be the SSA market’s final dollar benchmark deals of 2020.

The UK Municipal Bonds Agency on Tuesday withdrew a planned bond sale for Warrington Borough Council as a result of the Public Works Loan Board’s decision last week to cut its lending rate by 100bp. Warrington will have to reconsider what is its best funding option.

Bytes Technology, the UK cyber security and cloud services firm, has set the price range for its IPO on the London Stock Exchange, valuing the company at up to £692m.

Italian SME lender Illimity Bank is getting ready to sell its first senior bond by asking investors what sort of a price they would want to pay for the single B rated paper.

In calls with the UK Debt Management Office on Monday, the majority of Gilt-edged Market Makers (GEMMs) and some Gilt investors called for the UK to launch a new conventional bond maturing in either 2046 or 2051 via syndication next month.

Top tier Turkish lender VakifBank was in the market on Tuesday for its debut sustainable dollar bond, which market participants say is likely to gain strong demand from a wide investor base.

The recent strong run of equity-linked issuance in EMEA continued on Monday night with a €200m tap by French payments company Worldline of its 2026 convertible bonds.

Banca Monte dei Paschi di Siena found plenty of demand for a new senior bond in the euro market on Tuesday, aided by growing speculation about the possibility of a merger with UniCredit.