UniCredit
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NordLB issued a €750m public sector covered bond on Monday which, like the previous German 10 year from Commerzbank, was only just subscribed. The tight initial spread discouraged order inflation and stimulated high quality orders, allowing the borrower to issue more than was initially planned. -
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Snam visited the euro corporate bond market for the second week in a row on Tuesday, issuing a €500m four year bond and clinching a 0% coupon for the offering.
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A banker at one of Ecom Agroindustrial's new lenders, Raiffeisen Bank International, said that the bank was following a strategy to build new relationships with soft commodity firms in joining the Ecom deal.
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The head of group funding at UniCredit, Waleed El Amir, talked exclusively to GlobalCapital about meeting looming regulatory deadlines and the advantages of the covered bond market.
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UniCredit looked to push its senior curve out to 10 years this week, finding a supportive backdrop amid confirmation of Banca Popolare di Milano’s merger with Banco Popolare.
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Lenders are preparing the financing package for the $3.2bn leveraged buyout of Polish online retailer Allegro. A loan for the deal is likely to be mostly dollar denominated, bankers said.
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A flurry of follow-on equity sales this week, mostly block trades, showed that investors still want stock, sometimes at tight discounts, even while three IPOs had to be abandoned.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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A sell-off in eurozone government debt last week, over rumours that the European Central Bank might start tapering its quantitative easing programme, may have helped issuers bring more shorter dated deals in euros this week than have been possible for months — but some issuers are wary that more volatility could be ahead.
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FMS Wertmanagement became on Thursday the first public sector borrower since June to print a euro benchmark with a maturity below five years.
