Europe
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Aston Martin, the UK luxury car maker, has successfully completed its £371m heavily dilutive rights issue, with a high take-up from shareholders, including a consortium led by Canadian billionaire Lawrence Stroll. -
The Belgian Debt Agency has announced an increase to its financing requirements for 2020 in response to the coronavirus pandemic, which will see it borrow an extra €20.41bn.
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Austria made a rare trip to the dollar market last Thursday as it raised $600m via a reverse enquiry-led private placement, GlobalCapital understands.
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Henri Mills has been made UBS's first head of global markets distribution for France, the Benelux and Nordic regions.
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The UK government has filled one of the last gaps in its offer of financial help to companies struggling with effects of the coronavirus, by removing the cap of £500m revenue, which had barred many medium-sized companies from accessing government loans — raising the possibility that high yield bond issuers could tap loans for a variety of purposes.
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The European Central Bank is creating a temporary forum to stimulate dialogue between the ECB, national central banks in the eurozone and the private sector on the proposed European Distribution of Debt Instruments (EDDI) project, which aims to create a one-stop synchronised platform for selling bonds across the bloc.
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Swedish biotech company Getinge raised Skr1bn ($100m) of commercial paper off a new Covid-19 Financing Framework on Friday to it help meet increased demand for ventilators as a result of the coronavirus pandemic.
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UBS has made Paul Mahony head of corporate debt capital markets and derivatives for Europe, the Middle East and Africa, following on from Barry Donlon’s appointment as head of DCM for the region.
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Nexi, the Italian payments company, has sold a debut €500m convertible bond overnight with a simultaneous delta equity placement to circumvent the three month short-selling ban that has been imposed in Italy as a result of the Covid-19 pandemic, according to market sources.
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This week's funding scorecard looks at the progress French agencies have made in their funding programmes by the middle of April.
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Covered bond spreads have begun to stabilise with the help of European Central Bank secondary market purchases and a few bank investors. Although the market is still offered, secondary spreads are falling into line with where recent primary deals are trading. And, following the ECB’s decision to improve capital treatment of market risk, there are hopes bid side liquidity will improve.
