UniCredit

The euro corporate hybrid market reopened on Wednesday as Energie Baden-Wuerttemberg sold the second leg of its intended two currency deal, the first part of which was said by onlookers to have been subject to poor market conditions early in the week.

The ebullient tone that characterised the first three weeks of September has faded as investors begin to fret over the US presidential election on November 8, but there is still life in the SSA market.

Deutsche Lufthansa pulled a planned €500m seven year trade on Monday, not the first time the issuer has pulled a deal from the corporate bond market.

Oberbank, the Austrian regional lender, has announced the pricing and timetable for its rights issue, intended to raise up to €105.9m to fund its expansion.

China National Chemical Corp’s $12.7bn acquisition loan for Syngenta, which drew eight commitments during general syndication, is expected be signed with the new lenders in the next two weeks, according to bankers.

Italian spirits company Gruppo Campari has signed a €300m three year term loan with three banks to repay US private placement notes signed in 2003 and 2009, in an effort to reduce its funding costs.

Semperit, a rubber and plastic goods manufacturer, has come to the Schuldschein market with a uniquely diverse deal; as an Austrian firm issuing to a largely German market, in Polish and US currencies.

Jean-Pierre Mustier, chief executive of UniCredit, told GlobalCapital that US regulators do not really want foreign banks to have big operations in their domestic market, and he pointed to the unequal treatment of European banks in the US compared with US banks in Europe.

Deutsche Bahn was alone in the euro investment grade corporate bond market on Thursday, as it printed a €500m 12 year transaction on a soft day in financial markets.

Italian real estate company Beni Stabili signed a €710m facility on Thursday backed by its key Telecom Italia assets.

The Bank of Italy announced it would soften application of the capital conservation buffer (CCB) in line with most other European countries, but the move is not expected to relieve any pressure on additional tier one coupon payments.

Italian oil and gas company Eni jostled with four other issuers on one of the European corporate bond market's busiest days of the year as it issued a dual tranche offering on Tuesday.