UniCredit
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Wobbles in eurozone government bond secondaries this week failed to deter a strong showing from a pair of public sector issuers in primary on Tuesday. Unédic found strong demand and tightened from guidance on its longest dated benchmark ever, while Austria broke a series of records with a 10 year euro benchmark. -
The pace of borrowing has slackened for public sector borrowers as Easter approaches but a few are still out hunting for second quarter funding.
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Unédic and Austria have announced that they will sell euro benchmarks at the long end of the curve on Tuesday.
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Deutsche Bank has successfully completed its fourth capital raising since the financial crisis, as investors backed CEO John Cryan's turnround plan with a 98.9% take-up rate.
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Deutsche Bank shares closed on Thursday April 6 at €15.68, well above the €11.65 subscription price in its €8bn rights issue, for which subscription closed that day.
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Fears about poor asset quality are still prominent in Italy, but recent progress towards recapitalising the banking sector could have a big impact in helping Italian financial institutions make better use of international capital markets, writes Tyler Davies.
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Yorkshire Building Society defied concerns around the UK’s decision to leave the European Union this week, issuing a well oversubscribed covered bond that was very broadly distributed and that priced almost flat to its curve.
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Swiss steelmaker Schmolz + Bickenbach opened the euro high yield market on Monday with a sub-benchmark sized deal, extending March’s stream of opportunistic refinancing deals.
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UniCredit raised $2bn of senior debt in its first global bond offering for several years, fuelled by stronger sentiment following its €13bn rights issue.
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FIG borrowers have wasted little time in bringing opportunistic offerings in front of investors this week, using strong issuance conditions to complete a number of projects ahead of the Easter break.
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Aston Martin, the UK luxury car maker, made savings of up to 400bp on Friday as it wrapped up its latest bond refinancing bond. Investors came along for the ride but found it a bit of a squeeze.
