Europe

DZ Hyp returned to the covered bond market for the fourth time this year on Thursday to issue a €1bn eight year mortgage Pfandbrief. The deal showed that any uncertainty over the relative value of covered bonds has been firmly swept away after the European Union’s blow out debut earlier this week.

Emerging market IPOs have been one of the hottest themes in EMEA equity capital markets this year and issuance is set to continue as Canal+ Polska, the Polish television network owned by French TV service Canal+, launched its IPO on Thursday.

Rabobank intends to make an exceptional distribution on its equity-like Certificates and will avoid breaching the European Central Bank’s dividend ban by paying its investors in more Certificates rather than in cash.

Makinson Cowell, a company that advises on equity capital markets and investor relations, has joined Lazard, in a move that the investment bank says strengthens its UK financial advisory business.

The National Bank of Ukraine has stripped deputy governor Kateryna Rozhkova of her responsibility for banking supervision. The move follows the NBU’s official reprimand of Rozhkova and a colleague over a media interview.

Shaftesbury, the UK real estate investment trust that owns swathes of London’s West End, is tapping its shareholders for almost £300m ($392m) amid a severe downturn in the theatre district because of the Covid-19 pandemic.

Coventry Building Society (CBS) has set up a second covered bond programme that is secured exclusively on the mortgages originated under its buy-to-let Godiva platform, which had previously been funded through its Mercia RMBS programme. Although the covered bonds require more collateral to reach the same rating, they offer greater funding flexibility as they can be pledged for repo and are eligible for the liquidity coverage ratio.

Italy and the Province of Québec will add to the euro public sector supply on Thursday, hoping to capitalise on the strong momentum in the currency following the European Union’s record order book earlier in the week.

Bavarian dairy group Müller is marketing US private placements, according to market sources, alongside nutrition group Glanbia.

HSBC has hired Vikas Seth for a vice-chairman position, where he will be tasked with serving the firm's emerging markets clients.

The Italian Ministry of Economy and Finance will issue a second BTP Futura next month, following its debut bond in the format earlier this year, as part of its plans to seek greater participation from retail investors to fund its additional borrowing needs resulting from the coronavirus pandemic.

Swiss biotechnology company Idorsia has completed its Sfr575m ($629m) at-market rights issue to fund the commercialisation of insomnia drug daridorexant.