Europe

Bank of Ireland was willing to pay a premium of more than 10bp for a new holding company level senior trade on Monday, bucking the recent trend for financial institutions to squeeze their investors on pricing.

Caixa Geral de Depósitos was seven times subscribed for its debut non-preferred senior bond this week, when it become the first Portuguese bank to launch a deal in the format.

DZ Bank has appointed a new head of covered bonds in a move that acknowledges the bank’s growing league table presence in the euro covered bond market, particularly in Canada and Slovakia.

A team of investors have moved from NN Investment Partners to William Blair Investment Management, after NNIP changed its responsible investing strategy for emerging market debt.

Guarantor: Swedish local government members

Rolf Petermann, a former FIG banker at Société Générale, has been hired by Nomura.

Australia and New Zealand Banking Group Limited (ANZ) launched a new sustainable tier two on Friday. Looking to broaden its investor universe in the euro market and enlarge its tier two buffer after changes in Australian regulation, ANZ’s deal attracted orders of 2.5 times its €1bn size.

Lazard has launched a venture and growth banking team within its UK investment banking operations, to focus on private equity and venture capital (VC).

Hollywood special effects company DNEG has postponed its £225m IPO on the London Stock Exchange, blaming poor market conditions.

In this round-up, US president Donald Trump threatened to raise tariffs on China if the phase one deal is not reached, two Republican senators took action to speed up the passing of the Hong Kong Human Rights and Democracy Act and Chinese president Xi Jinping wrapped up a state visit to Greece.

Demand for green issuance outweighs supply in Swiss francs, said bankers after Swiss Life raised Sfr600m last week in a deal that saw all three of its tranches increased to their maximum size and priced at the tight end of the guidance range.

Xavier Niel, the founder and controlling shareholder of Iliad, the French telecoms company, is using an innovative technique to enlarge his stake, while avoiding the usual requirement to make a public offer to buy the whole company. Some bankers think it could be a clever new option for company owners — others doubt it can be used widely. Sam Kerr and Jon Hay report.