Europe

Electricité de France has reopened the equity-linked bond new issue market in EMEA with a huge €2.4bn green convertible bond, alongside a €2.1bn hybrid capital issue.

UniCredit’s German subsidiary, HVB, unearthed demand of €2bn for its €1bn eight year Pfandbrief that priced on Tuesday. The deal will be followed by a non-deal roadshow for a second issuer from Japan.

A former sovereign, supranational and agency bond syndicate banker at Goldman Sachs has joined an alternative investment management firm as a fixed income trader.

Barclays has appointed Todd Sandoz and Paul Leech as permanent co-heads of global equities.

Financial institutions debt capital markets officials expect lots of small bond issues rather than a big mass of supply this September, as banks fine-tune their capital structures and bring forward next year’s funding plans.

The tension between the EU and UK over Brexit ratcheted up this week, with the prospect of the UK reneging on the EU-UK Withdrawal Agreement rearing up. Rising political tension could now boil over into talks on financial services.

Commerzbank did not pay a premium to launch its new additional tier one (AT1) this week, as it found strong demand at the long end of the curve. The bank was returning to the market just three months after its last deal in the format.

Hensoldt, the German sensor maker that supplies the defence industry, has joined Europe’s burgeoning IPO pipeline with the announcement of a Frankfurt listing this year. The deal, launched on Tuesday, is already gaining traction among investors, who are seeking to meet the company for what could be the largest German IPO of 2020.

The UK Debt Management Office raised £8bn ($10.24bn) with its first 15 year syndication on Tuesday morning, the first of two Gilt syndications it will hold during September.

Mairead McGuinness has been chosen as the next commissioner in charge of financial services, financial stability and the Capital Markets Union at the European Commission. She replaces Valdis Dombrovskis, who is taking on the trade portfolio.

The Republic of Poland, the first European country to issue a Panda bond in August 2016, has finished the documentation process for its second onshore renminbi offering, GlobalCapital China understands.

Italy is returning to the international debt market for another syndication, its first since June.