UniCredit

Lenders are still keen to underwrite sterling loans after the UK’s Brexit vote — as shown in Steinhoff’s £452m deal — said one head of Emea loan syndicate.

Croatia’s Zagrebački Holding completed a buy-back of nearly half of its outstanding Eurobonds on Thursday.

Turkey's Sekerbank has mandated six banks for a Reg S only subordinated tier two Basel III compliant bond.

UniCredit used similar tactics on its accelerated bookbuild sale of 10% of Bank Pekao on Tuesday night to those it had used for Monday’s sale of FinecoBank — and achieved a similar result: multiple times oversubscription, led by one very large anchor order.

South Africa's Steinhoff has agreed to buy UK discount retailer Poundland in a £597m deal, with Crédit Agricole one of two banks underwriting the loan financing. The French bank also benefited from Steinhoff’s thwarted bid for Darty earlier this year, when it co-underwrote a facility for rival bidder Fnac.

A last minute order saw Yapi Kredi Bankasi relaunch a new senior deal at an increased size on Tuesday. The Turkish bank offered a 10bp new issue premium, according to lead bankers.

UniCredit has dominated the headlines again this week, but this time for a better reason. Italy’s largest bank has also been its biggest loser of shareholder value, its shares falling 75% since last summer, as investors have lost trust in the sector.

The first corporate bond new issue has been priced in euros at a negative yield. Deutsche Bahn raised €350m of five year debt on Wednesday with a 0% coupon, at a yield of -0.006%.

A day after selling 10% of its Italian online retail investment service Fineco Bank for €328m, UniCredit has this evening launched an accelerated bookbuild of 10% of Bank Pekao, the Polish bank of which it owns 50.3%.

Foncia, the French residential real estate company, on Tuesday began marketing its €1bn LBO loan into an "issuer friendly" market, according to one investor.

Yapi Kredi Bankasi opened books on a seven year note on Tuesday morning, offering a 20bp premium at initial price thoughts.

UniCredit’s shares leapt 13.5% today after it declared the beginning of a strategic review of its business after the market close last night. The announcement coincided with the launch of a sale of 10% of one of its finest assets — FinecoBank.