Europe
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TAG Immobilien, one of Germany’s largest residential landlords, has issued a new €470m six-year convertible bond, tapping into heightened investor interest in German housing companies during the pandemic. -
Great Portland Estates, the UK real estate investment trust, has sold £150m of US private placements.
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Adyen’s senior managers, including its billionaire co-founders, have sold €693m of shares in the Dutch payments company after it declared strong first half results on Thursday.
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UBS reckons it has a hit upon a ‘unique formula’ for growth as it expands its investment banking offering to its high net worth clients, writes David Rothnie.
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Renewable energy has finally arrived as one of the premier sectors in equity capital markets. All it took was a global pandemic.
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Gillmann to join Barclays for logistics — Citi picks new Nigeria head — Charles, Habeck hired by Greensill
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KfW began a new wave of 10 year supply this week, reopening the SSA market’s trickiest tenor for business. Issuers are so eager to access the maturity that they are having to jockey for position.
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Public sector borrowers have wasted no time in returning to the capital markets this week, as borrowers look to protect themselves from a triple whammy of threats looming towards the end of the year — the arrival of the European Union as a giant issuer, a contentious US presidential election and a second wave of Covid-19 infections.
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Bank finance arrangers will err on the side of caution when the euro market reopens next week, with many bankers wondering whether they can rely on squeezed secondary levels as a guide for new issue pricing.
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Despite a slowdown in the pace of new issuance this month, a strong appetite for share sales by European companies remains — particularly those from sectors benefitting from the pandemic, such as healthcare, technology and renewables.
