Europe

Eurex launched MSCI index derivatives tailored to fit environmental, social and governance (ESG) investment criteria on Monday, as it works to expand its suite of related products beyond Europe.

Danske Bank confirmed on Monday that it would be redeeming one of its additional tier ones next month, after erroneously stating that it was withdrawing a notice to call the bonds.

Deutsche Lufthansa has entered the Schuldschein market for a second time in a matter of weeks, as the coronavirus rocks airlines’ equity value and their ability to raise public debt.

The negative impact of the new coronavirus on Italian covered bonds and CMBS is limited so far, said Moody’s and DBRS in reports published on Friday and Monday. But if the outbreak spreads, the ability to repay covered bonds would be impeded with serious consequences.

The first scorecard of 2020 looks at the progress Nordic agencies have made in their funding programmes at the start of March.

Ninety One, the asset management division of Investec, has set a price range for its IPO on the London Stock Exchange, despite extreme market turbulence caused by the spread of the Covid-19 coronavirus across the globe.

Novo Banco is requesting €1.037bn from the national resolution fund in Portugal in an effort to cover losses incurred on some of its assets. The majority of the financing is likely to come from the Portuguese state.

Nacon, the French video game developer, concluded its listing on the Paris stock exchange last Friday, a week earlier than expected. A strong start to the bookbuilding process meant the banks were able to price the deal despite a brutal equity market sell-off, but the seller was careful in allocations to try and aid aftermarket performance.

UK insurer Hiscox said on Monday that it had received some ‘small claims’ relating to Covid-19, as credit analysts warned that the insurance sector was exposed to indirect impacts from the spread of the virus.

Activist investor Edward Bramson has called on Barclays not to renew chief executive Jes Staley’s contract over his links with dead sex offender Jeffrey Epstein. He also questions the bank’s corporate broking relationship with JP Morgan.

Only a few issuers braved the MTN market in what was otherwise a week silenced by coronavirus volatility. With deals far and few between, bankers highlighted trades from Lufthansa and the Brussels Capital Region as market standouts.

Nomura's head of sovereign, supranational and agency, covered bonds and financials trading has left the bank.