UK
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Romain Miginiac, head of research at Atlanticomnium, says the European banking sector is emerging from the coronavirus crisis in surprisingly good shape. But he warns that the pandemic could still be very painful for certain institutions. -
Deliveroo, the UK food delivery company, has taken heed of investor fears of IPO congestion and has revised its the price range of its listing down to the bottom end of the range.
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German semi-conductor business Infineon, which is Europe’s largest chip maker, has sold $1.3bn of US private placements, according to several market sources, in the largest trade from Europe in almost five years.
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The Restaurant Group, the owner of multiple UK dining brands including Wagamama and Frankie & Benny’s, has completed a £175m capital raising, with a high take up from shareholders.
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HSBC UK Bank plc has set up a UK covered bond programme which, in contrast to its previous one, sits inside its ring-fenced entity and is likely to be used for distributed issuance.
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Shares in ActiveOps, the Reading-based management software company, traded up more than 13% on Monday after the company made its debut on London’s alternative investment market (Aim).
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CNP Assurances found favourable pricing in dollars this week, when it ventured into the Reg S market for its second sale of restricted tier one (RT1) capital.
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Digital 9 Infrastructure, an investment trust that invests in digital assets, has completed a London IPO raising £300m for investments. Its first acquisition will be in a company that owns transatlantic fibre-optic cables used by large internet companies.
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Financial institutions bond bankers are hoping to build back better in April after coping with a tumultuous end to the first quarter. They say the holiday season and a recent back-up in yields will combine to create the perfect conditions for a long-awaited credit rally.
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The UK issued its second ever sukuk on Thursday, raising more than double the amount it had with the first in 2014.
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Belfius cancelled a consent solicitation for one of its tier two bonds this week after the Single Resolution Board took the market by surprise and broadened the scope of its grandfathering period for ‘Brexit bonds’.
