Europe
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This week's funding scorecard looks at the progress European sovereigns have made in their funding programmes in early September.
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Heinz-Hermann Thiele, the German billionaire, has raised €1bn through a share sale in break manufacturer Knorr-Bremse, the second time he has sold shares in the company since it floated in 2018, raising questions about why he would return to sell so soon.
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ZF Friedrichshafen, the German car parts maker, is considering moving its focus away from the Schuldshein market, where it is one of the biggest issuers, after finding success selling public bonds this week.
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The UK Debt Management Office has selected the banks which will lead its second syndicated transaction of the month, a tap of its 0.5% 2061 conventional Gilt.
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Apollo Global Management has completed the first selldown of shares in Verallia, the French glass bottle maker, since its €1bn flotation in Paris in October last year.
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Crédit Agricole printed its long-awaited Rmb1bn ($146m) Panda bond this week, after delaying its offering by nearly three months due to volatility in China’s onshore debt market.
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European policymakers may decide to ramp up efforts to retain control of capital markets, amid rising Brexit tensions, the US-China dispute and the need to recover economic growth.
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Banco BPM struggled to build much of an order book behind a new tier two bond this week, with bankers arguing that investors have become more selective with their exposures to southern European names.
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