UniCredit
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The State of Brandenburg drew a well oversubscribed book for a no-grow €300m August 2036 bond on Tuesday, adding to a spurt of 20 year euro deals over the last two weeks. -
The German State of Brandenburg is set to double the record for its longest ever syndication, after hiring banks on Monday for a no-grow €300m 20 year bond.
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Johnson Control’s automotive business, Adient, on Monday began a roadshow for $2bn-equivalent of high yield notes, with a 17 strong group of bookrunners.
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Spain’s Cellnex Telecom, a broadcasting towers business, hit the investment grade and high yield euro markets on Monday, just over six weeks after it roadshowed for the deal.
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Jean-Pierre Mustier’s had a busy first month at UniCredit. Already, the new CEO has launched a strategic review, sold 10% each of FinecoBank and Bank Pekao, made a host of senior appointments and scrapped two-year-old talks with Santander about combining their asset management businesses.
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New UniCredit chief executive Jean Pierre Mustier has moved quickly to stamp his mark on the bank’s organisation and senior management, as well as reshuffling the top ranks of the financing and advisory business.
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German car rental company Sixt has completed a €375m Schuldschein deal, the size of which was more than doubled after strong demand from investors.
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UniCredit has appointed Vicenzo Tortorici global head of the financial institutions group, with Christian Steffens moving over to become UK country head and London branch manager. The bank made other senior IB appointments, including a new co-head of syndicate.
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Euros had to play second fiddle to a rampant dollar market this week, but there was still a steady flow of deals at the smaller end of the size scale.
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UniCredit is considering a possible flotation of its asset management business Pioneer Investments, after talks with Santander about a merger with Santander Asset Management failed.
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Terna, the Italian electricity grid company, has signed a €500m five year revolving credit facility, a year after repaying a previous club deal.
