UniCredit

Deutsche Bank has launched the IPO of DWS, its asset management unit, on the Frankfurt Stock Exchange – a key plank of chief executive John Cryan’s plan to revive the troubled bank's fortunes.

Recaro Holding and Thomas Gruppe both increased Schuldschein transactions from their initial target sizes on Monday, as demand for Schuldschein paper keeps pace.

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With the return of stability to the euro public sector market, a new wave of borrowing hit this week. Four core European names brought syndications, some of which were able to access unusual or difficult tenors because of the higher rates on offer.

The euro SSA market is returning to a more aggressive pace of issuance after a slackening in tempo last week. Two borrowers raised a combined €3bn on Wednesday and another pair are set to print on Thursday.

In stark contrast with a mute high yield bond market, leveraged loan investors were expecting more than €5bn of new deals on Monday, including a $725m-equivalent deal from Swedish trade technology provider Itiviti, which includes a triple-C rated second lien.

Leonardo, the Italian defence company, has agreed a €1.8bn five year revolver 25bp cheaper than the facility it is replacing, making it the latest crossover borrower to negotiate better terms for itself in a refinancing.

Slovakia’s largest distribution operator Západoslovenská energetika (ZSE) has named two banks to arrange a new euro deal of a medium maturity.

Veteran UniCredit banker Jan Kupfer, will now head corporate and investment banking in Germany for the firm, following Michael Diederich's move to the role of country chairman and chief executive of UniCredit’s German entity. Diederich’s move was announced by the bank in November.

Siemens has begun the IPO process for the highly anticipated spin-off of its health division, Siemens Healthineers, by releasing its intention to float document.

Deal flow in Central and Eastern Europe (CEE) is picking up, according to international loan bankers, with more pre-export finance facilities from Russia and some anticipated event driven transactions in the rest of the region.

Bookrunners will start marketing the financing for KKR’s buyout of Unilever’s spread business as soon as next week, with the European high yield bond and the leveraged loan market both braced for supply.