Europe

Bankers close to SIA, the state-owned Italian payments company, say they expect that it is more likely to pursue a merger with fellow Italian payments company Nexi rather than a listing in Milan this year. However, GlobalCapital understands that SIA is still running a dual-track process, meaning hopes of a public sale are not dead yet.

This week's funding scorecard looks at the progress of Europe's supranationals and agencies towards the end of June.

NRW.Bank has mandated banks to arrange a series of virtual fixed income meetings as it looks to present its new social bond framework to investors ahead of a debut deal in the format.

Andrew Bailey, the governor of the Bank of England, has hinted at a dramatic reversal of the central bank’s long-standing monetary policy strategy, with the idea that it would be better to reduce the stock of its asset purchases before raising interest rates.

French aerospace and defence company Safran has closed a large US private placement, according to market sources, of €566m-equivalent in euros and dollars.

Gabriela Martínez de Aragón has joined CaixaBank as country manager for the UK.

Korea Housing Finance Corp (KHFC) has hired lead managers for a new social covered bond in the euro market. It is its second such deal in the currency this year, and it could face tougher conditions this time.

Italian prime minister Giuseppe Conte’s admission that Italy’s budget deficit would be wider than initially projected has caused a sell-off in the country’s bonds. The rest of the eurozone periphery has fared better, thanks in part to news of a new appointment to the German constitutional court.

Shares in Meyer Burger Technology, the Swiss developer of solar panel technology, surged by more than 26% on Monday morning after the company unveiled plans for a Sfr165m capital increase to accelerate its plans for an expansion its own cell and module production capacity.

Nikhil Rathi will be the new chief executive of the Financial Conduct Authority. He is currently CEO of the London Stock Exchange.

The Portuguese treasury and debt management agency has unveiled its updated funding programme following the submission of its supplementary budget. The programme reveals the extent to which Portugal's borrowing needs have been elevated by the coronavirus crisis.

Aker BioMarine, a Norwegian fishing company that harvests krill to be used in nutritional products, has already attracted substantial demand for its listing on Norway’s junior Merkur Market; it will look to list on Norway’s main exchange in 2021.