Europe

Banks set the price on the IPO of The Hut Group (THG) on Thursday, a listing that has proved popular with investors, who predict “ridiculous” demand for the deal.

French reinsurer Scor launched a tier two at a negative new issue premium on Thursday, finding plenty of demand after a prolonged absence from the market.

Harald Kröger is set to take charge of Raiffeisen Bank International’s group investment banking division from October 1.

Yorkshire Building Society was more than three times subscribed for a new euro senior deal on Thursday, despite worsening EU-UK relations in the run-up to the Brexit date.

Two of the largest pension insurers in Finland have offloaded €283m of stock in Kojamo, a housing rental company in the country, tapping into yield driven demand for residential property companies during the pandemic.

IAG, the airline holding company that owns British Airways, has launched its €2.75bn rights issue to help fund it through the coronavirus pandemic. The company does not expect a return to normal operations until 2023, but is hoping its ability to be flexible in offering flights to areas that are recovering more quickly will be enough to persuade investors to take part in the cash call.

Boutique firm Liberum has picked David Parsons as executive chairman and Bidhi Bhoma as chief executive, as founder Shane Le Prevost, who previously held both those positions, is stepping down.

The City of Hamburg began taking indications of interest with initial price thoughts for a 30 year bond on Wednesday afternoon ahead of schedule after one of the leads accidentally sent out a message announcing the official opening of order books.

The EIB kicked off the post-Labor Day SSA dollar market on Wednesday with a five year deal, it's third of the year. Oesterreichische Kontrollbank (OeKB) is set to follow, having mandated for its second five year dollar deal of the year.

French agency Caisse des Dépôts et Consignations is planning to round off its 2020 funding through private placements. It was last active in the market at the end of last week, selling a long dated callable bond to an investor hunting for a yield pick-up versus Bunds.

Scope, which provides credit ratings, has created a foundation holding a portion of its shares, saying this is designed to keep it in European hands. In addition, Jean-Claude Trichet, former president of the European Central Bank, has joined an honorary board it has set up to advise on European issues.

Caisse d’Amortissement de la Dette Sociale (Cades) made an impressive debut in the social bond market on Wednesday with the biggest ever deal in the format by any issuer, overtaking the previous record set by Unédic earlier in the year.