UniCredit

A flotilla of IPOs reached harbour safely this week, through waters calmed by the European Central Bank’s quantitative easing medicine, and whatever other magical ingredient has made financial professionals feel so much better since Easter. But one debutant tripped up and another IPO was pulled.

Türkiye Vakiflar Bankasi, or VakifBank, this week issued the first publicly syndicated Turkish covered bond, sending a powerful message to other Turkish banks and emerging market issuers that the investor base is wide open and eager for more EM names.

Kering, the French luxury goods company, issued a €500m no-grow transaction on Thursday that saw some orders drop out but still came with a negative new issue premium.

After a strong start to the year, liability management activity came to a halt following the ECB’s announcement of its corporate sector purchase programme, prompting questions as to how this latest stimulus package will affect the market. Despite the slowdown, however, there is reason to believe an uptick in activity is on the horizon, according to UniCredit’s Liability Management team.

Amadeus, the Spanish airline ticketing systems group, has signed a €500m revolving credit facility with a group of 12 banks, bringing in two new lenders as two dropped out.

UBI Banca became the first Italian lender to print tier two capital this year on Wednesday, laying the foundations for more periphery capital to follow.

Investors gorged themselves on McDonald’s bonds on Tuesday, as the US hamburger restaurant chain issued €2.5bn of bonds in three tranches, which were nearly six times oversubscribed.

Funke Mediengruppe, the German media group, has agreed an extension to its loan facilities, in one of the few amend-and-extend operations so far in 2016.

Investing in Italy's bank recapitalisation fund could weaken larger lenders' vulnerable capital ratios, according to Moody’s.

Türkiye Vakiflar Bankasi (Vakifbank) brought a load of new faces to its investor base when it issued Turkey’s first publicly syndicated euro benchmark covered bond — at an extremely low cost of funding.

Bank of China Luxembourg has signed its debut syndicated loan after ICBC’s London subsidiary signed a $1bn deal last year.

Spanish IT company Amadeus will complete its €500m revolving credit facility later this week with some changes to its bank group, according to a banker familiar with the deal.