Ireland

The International Development Association is set to make one of its rare outings to the euro market on Tuesday, joining a 20 year from Ireland, which will be the third sovereign deal this week.

Davy, the Irish brokerage firm, has shut its bond desk with immediate effect following a damning investigation by the Central Bank of Ireland which found a group of employees breached markets regulation for personal financial again over a period of two years.

A pair of sovereigns privately placed century bonds this week, with one of the borrowers — Ireland — dipping below the 1% point for the first time at this sort of tenor.

Smurfit Kappa, the Irish paper and cardboard packaging company, has signed its first sustainability-linked loan for €1.35bn, at the same time as setting new targets to reduce its carbon footprint and water use and employ more women.

Deutsche Pfandbriefbank could take advantage of a quiet backdrop in the euro FIG market to launch the first deal from its green bond framework.

Public sector borrowers soaked up huge demand in the euro market on Tuesday including the State of North Rhine-Westphalia, which printed its biggest ever 100 year bond despite offering a yield of less than 1%.

Public sector borrowers wasted no time in getting back to business in the euro market in 2021 with one live deal and four mandates all hitting screens on Monday as issuers look to take advantage of an almost full trading week and a supportive market to make a dent in their brand new funding programmes.

Greencoat Renewables, the Irish wind farms fund managed by Greencoat Capital, launched a €100m equity capital raise on Thursday to free-up funds for acquisitions.

Smurfit Kappa, the Irish packaging company, priced a €660m capital raise on Thursday night, to allow it to take advantage of market opportunities during the Covid-19 recovery, as well as give it the firepower to withstand any downturns.

Permanent TSB has picked banks to arrange the sale of a new additional tier one (AT1) from its holding company, a deal that could be used to replace the Irish lender's outstanding opco bond.

The European Central Bank said this week that it thought a stronger role for countercyclical capital buffers would be key in making sure that banks use their available resources to boost lending in times of crisis.

Mediolanum International Funds Ltd (MIFL), the international asset management arm of Italy’s Mediolanum, has extended its hiring streak in Dublin, with the addition of a new senior fund manager.