UniCredit
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UniCredit underscored weaknesses in its balance sheet and capital position on Monday, issuing investors with another series of warnings ahead of its planned €13bn rights issue. -
A few of Europe's smaller borrowers are trying their luck now that the storm of issuance that thronged markets through most of January has abated.
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The dollar bond market for public sector borrowers this week rounded off a spectacular January, with many bankers describing it as “perfect” and the best in five years.
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A trio of issuers brought deals across the short end of the dollar curve on Wednesday, adding to what one SSA syndicate head described as the “ideal January”. Supply looks to have dimmed for now, with no deals on screen for Thursday and Chinese New Year holidays next week likely to halt benchmark issuance, but bankers believe conditions are so hot that arbitrage deals or floating rate notes could still break through.
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UniCredit has appointed a new global head of financial institutions group as it looks to bolster the sector’s importance within its corporate and investment banking division.
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Energias de Portugal drove into the euro bond market on Tuesday with a €600m long six year transaction that tapped into investors’ taste for crossover credit.
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General syndication has begun on loan facilities backing Mid Europa Partners’ acquisition of Romanian retail chain Profi Rom Food.
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UniCredit has added a senior trader to its emerging markets credit business in London
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La Banque Postale (LBP) and Axa Bank Europe SCF priced French covered bonds this week. Axa’s may be its last before it restructures its programme.
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Slovenia reopened the bond market for emerging European issuers in style on Tuesday, with a well-received dual tranche euro deal.
