Europe
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UK water utility companies have begun to test public and private debt markets for the first time since regulator Ofwat’s price review, and the deadline to appeal it, passed. The regulator’s decision will have large ramifications for the companies’ profiles in capital markets, writes Silas Brown. -
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A pair of Australian sub-sovereigns have made their debuts in the euro market in recent days. An attractive basis swap helped to encourage issuers to sell into unusually strong demand for long dated euro paper.
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BTIG Ltd, the US broker dealer, is expanding its EMEA equities sales and trading business in London, with four senior hires.
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Sibur, the Russian petrochemicals company, is unlikely to go public in 2020 because of unfavourable macroeconomic conditions, its CFO tells GlobalCapital.
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Santander went up against Crédit Agricole with a 12 year covered bond on Thursday. Although the Spanish lender announced its deal after the French bank, a generous start ensured Santander sucked demand from the French deal, which was also hurt by a lower than expected European Central Bank order. Santander also issued a deeply negative yielding five year that attracted excellent demand.
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Luminor Bank has mandated leads for the first covered bond from the Baltic region.
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A lack of credible internal candidates and a desire for stability across its divisions led UBS to cast the net wider to find a successor to chief executive Sergio Ermotti. It has appointed ING CEO Ralph Hamers.
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Drinks group C&C to sell US PPs as Irish firms return — Almarai feasts on $100m for MENA expansion — Lufthansa flies by Schuldschein market for short dated debt — Archer plots loan A&E — Greencoat UK draws debt for wind farm buy
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UniCredit is making Algis Pabarcius its UK country head, replacing Christian Steffens, who is moving to head up corporate and investment banking for the Americas region.
