UniCredit
-
Medical diagnostics firm Unilabs launched a €250m high yield bond with a roadshow this week, to back its acquisition of Alpha Medical. Nomad Foods is also roadshowing a €500m deal. -
Russian fertiliser producer Phosagro will meet investors from Thursday for its first Eurobond since 2013.
-
UniCredit is seeking investors’ consent to substitute Fitch with Moody’s as credit rater of its conditional pass through covered bond programme. The latter requires an issuer to provide less collateral for a similar rating.
-
Investment bankers serving Europe’s financial institutions are already confident 2017 is going to prove a more fruitful year than 2016, when the fees paid by the sector fell to a 14 year low, writes Jon Hay.
-
The French presidential election saga has taken another twist, with far-right candidate Marine Le Pen’s chances slipping — but those of Jean-Luc Mélenchon, from the other extreme of the political spectrum, rising. Asian investors are pulling back from deals until the election hurdle is cleared, say issuers — but the rise of Mélenchon may also provide an earlier than expected relief rally.
-
-
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.
-
Unédic and Austria have announced that they will sell euro benchmarks at the long end of the curve on Tuesday.
-
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.
-
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.
-
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.
