UniCredit

Tightly priced and low yielding Pfandbriefe issued this week by HSH Nordbank and Deutsche Hypo received less demand than usual, with HSH failing to attract enough attention to cover its deal.

Amadeus, the Spanish company that provides IT systems to the air travel industry, reaped the rewards of five weeks of patience on Tuesday as its €500m six year no-grow bond brought in an order book of over €4.75bn.

Autoroutes Paris-Rhin-Rhone, the French motorways group, stayed with the defensive tactics of its previous bond issuance on Tuesday, raising a €500m 4.3 year floating rate note.

The International Swaps and Derivatives Association’s (ISDA) protocol to allow regulators to temporarily stay contract close-outs now covers an estimated $560bn of cross-border securities financing.

Rumours that the European Central Bank will add German regions to its public sector purchase programme fuelled demand for a State of Hessen benchmark on Thursday, said bankers.

Anheuser-Busch InBev, the Belgian-Brazilian brewer, mandated a group of 21 banks to provide its $75bn loan facility, but there was no coordinator as AB InBev took an active role in arranging the transaction.

UniCredit’s new strategic plan means its corporate and investment banking business is under no illusions about its importance to the group’s wider empire, writes David Rothnie.

UniCredit’s profits took a 30% hit in the third quarter, but the drop in core bank earnings was far more modest and its investment bank posted a year-on-year increase.

A German state is on track to wrap up its funding for the year on Thursday, as an agency from the country is tipped to bring a benchmark next week.

Autoroutes Paris-Rhin-Rhone, the French motorways group, stayed with the defensive tactics of its previous bond issuance on Tuesday, raising a €500m 4.3 year floating rate note.

Russian Copper Company has signed a $200m four year pre-export finance facility with European and Russian banks.

Amadeus, the Spanish company that provides IT systems to the air travel industry, reaped the rewards of patience on Tuesday after sitting in the pipeline for five weeks as its €500m six year no-grow bond brought in an order book of over€4.75bn.