Santander

UniCredit is only the second Italian bank to have accessed public primary bond markets during the coronavirus pandemic, but other lenders from the periphery of the eurozone are now lining up to bring deals of their own.

A subsidiary of China National Chemical Corp (ChemChina) has returned to the market for an €860m dual-tranche loan.

Crédit Mutuel Arkéa, Deutsche Bank and Mitsubishi UFJ Financial Group this week sourced environmental, social and governance senior funding in euros, amid a shortage of supply in the format.

Crédit Mutuel Arkéa has joined a fast-growing list of banks marketing Covid-19 response funding in the bond market, raising €750m in non-preferred senior format on Thursday to finance projects through its social bond framework that tackle the effects of the pandemic

Airbus, the European aircraft manufacturer, flattened its curve on Tuesday with a €3.5bn three tranche bond issue that commanded €15.1bn of demand. But European syndicate bankers said it offered no read-across for whether airlines might return to the bond market soon and that their chances of doing a deal were distant.

The UK Debt Management Office has announced the timing and the banks for its upcoming syndication next month, as it continues to plough through its unprecedented borrowing programme.

Tendam, a fashion retailer, is the latest Spanish company to get syndicated loan backing from state-owned Instituto de Crédito Oficial (ICO), as sectors hit hardest by the coronavirus pandemic lean on state support.

Siemens, the German machinery maker, found plenty of demand for a multi-tranche bond issue on Wednesday, though the inclusion of a two year fixed portion strongly suggests that floating rate notes have become unpopular among corporate issuers.

Tendam, a fashion retailer, is the latest Spanish company to get syndicated loan backing from the state owned Instituto de Credito Oficial (ICO), as sectors hit hardest by the coronavirus pandemic lean on state support.

Severn Trent, the UK water utility, achieved blowout demand on Tuesday for its sustainable bond, as bankers say the focus in the high grade market is shifting from crisis mode back to socially responsible debt.

Lloyds Bank decided to tender some of its covered bonds in three major currencies this week in what it called a “prudent approach” towards its liquidity base. The move could prompt more issuance in the asset class this year in an effort to refinance some of the tendered securities, but it could also decrease liquidity at the short end of the curve, given the cheaper refinancing alternatives open to banks.

European banks are expected to hit the dollar market in force over the coming weeks as they look to take advantage of an extended rally in spreads.