Europe

Mediobanca was able to attract demand seven times the size of its new €500m senior bond on Tuesday, which was its debut green deal. The high demand allowed the issuer to launch with a negative new issue premium based on its conventional curve.

A former sovereign, supranational and agency bond trader at Commerzbank has joined NordLB after an almost two year hiatus from the capital markets.

MünchenerHyp (MuHyp) attracted swift and strong demand for its 15 year Pfandbrief on Tuesday, reflecting the rarity of its appearances in the primary market and the scarcity of 15 year Pfandbrief supply this year.

Norilsk Nickel, the Russian metal and mining company which has found itself under heightened scrutiny in recent months after a series of major oil spills, is set to raise a dollar denominated benchmark bond this week. Russian telecom major Veon was also in the market for its second rouble offering in recent months.

Ireland's Dalata Hotel Group was in the market with a 19.9% accelerated share placing on Tuesday, a move the company said would give it the firepower to take advantage of growth opportunities stemming from the Covid-19 pandemic.

The UK Debt Management Office has chosen the banks to lead the first ever 15 year Gilt to be sold via syndication, which will hit the market next week

From next year, Berenberg’s investment bank boss David Mortlock will take over management of the overall bank alongside Christian Kühn and Hendrik Riehmer.

Citigroup has beefed up its presence in France by hiring Robin Rousseau, Deutsche Bank’s head of M&A for Europe, the Middle East and Africa.

This week in Keeping Tabs: the prospect of financial repression in the UK, an easier passage for emerging market central banks, and Alphabet partnering up with Swiss Re.

Rentenbank plans to issue its first green bond in the middle of September, after two weeks of meetings and calls with investors. Treasurer Stefan Goebel said he was not too concerned by the impending wave of supply from the European Commission.

Top tier UK universities are likely to issue public and private debt in the fourth quarter of this year, to fill a funding gap from collapsing summer revenues and dwindling numbers of international students. With operating conditions for the sector decidedly bleaker, many expect a clutch of lower ranked UK universities to go bust in the next few years.

Standard and Poor’s is due to review the ratings of several German Laender over the next few weeks, and downgrades could undermine Pfandbrief valuations. But some market participants believe that scarcity of issuance in the asset class could in fact make spreads tighten further.