Europe

Berlin Hyp has mandated leads for the first covered bond from the eurozone since June 30 and plans to issue a 10 year deal secured on green mortgages and has pledged to undertake a number of new strategic commitments.

The bank bond market burst back into life on Monday, with BNP Paribas and Commerzbank shedding light on favourable pricing conditions in euros following the summer break.

Barclays has hired Manuel Esteve from JP Morgan to lead its continental European equity capital markets business.

Danish bankers believe that Danish mortgage banks are well capitalised and do not see the need to hold more capital, as was recently proposed by the Danish central bank.

Germany will issue green Bunds every year in the future, hoping to “establish a green euro interest rate benchmark, thus creating added value for the sustainable finance market”, its government said on Monday, as it revealed details of its first two green bond issues.

Sweden began a series of calls with investors on Wednesday as it prepares to issue its highly anticipated inaugural green bond through syndication later this month.

A staggering amount of capital has been raised by the world’s airlines so far this year as the industry has suffered its worst crisis since 9/11 as a result of the Covid-19 pandemic.

French equity capital markets are having another subdued year. Just €8.77bn has been raised so far across IPOs, block trades, rights issues and convertible bonds, according to Dealogic data.

ABN Amro has become the 18th bank to call an additional tier one (AT1) in 2020, as refinancing conditions continue to improve, despite the impact of the coronavirus pandemic.

Yields in the European periphery have moved tighter and tighter over the course of the summer, presaging a strong reception when the euro market reopens next week, bankers say.

This week in Keeping Tabs: does sustainable finance need to rethink environmental threats, did monetary policy after the last crisis increase well-being, and do we need to worry about sovereign debt levels in developed countries?

Cypriot banks could start selling covered bonds for the first time in a decade if the country clarifies and strengthens its issuing framework in line with new EU standards, Scope Ratings said in a report this week.