UniCredit

L-Bank

L-Bank jumped on strong momentum in euros this week to print its first benchmark of the year in the currency. The five year note found no shortage of demand and drew the biggest order book the issuer has had since 2006.

Polska Grupa Energetyczna, the Polish state-owned power company, has signed Z2bn (€467m) of loans with the European Investment Bank, following a Z5.5bn(€1.3bn) syndicated loan.

UniCredit has named a new head of financial institutions origination, after moving one its senior bankers into another role.

A pair of agencies are set to tackle the belly of the euro curve, following a five year euro benchmark from European Stability Mechanism that left the supranational with just €2bn left to fund in 2015.

Eurogrid, the German electricity grid operator, swept through the primary bond market at pace on Tuesday with an €880m issue that showed there was life in the long dated market.

Iren, the newly rated Northern Italian utilities company, sailed through another day of low issuance on Monday, drawing in a €3.4bn order book for its €500m bond.

The European Stability Mechanism hired banks on Monday to run the latest piece of its inflated 2015 funding target, as its chief financial officer said the supranational could move into instruments other than euro benchmarks and bills.

Poste Italiane, the Italian state-owned post office, priced its initial public offering in Milan on Friday, exactly at the middle of its original price range, to raise €3.058bn.

Poste Italiane, the Italian state-owned post office, looks set to raise €3.058bn in its IPO, which has been completed against an uneasy market backdrop. Final pricing has not yet been announced, but looks highly likely to be €6.75 a share.

Covered bonds issued this week from banks in Italy and Portugal were a roaring success from the sellers’ point of view. But none could have been done without the European Central Bank’s help.

Romania became the latest CEE name to demonstrate the renewed bid for duration this week, drawing praise for a 10 and 20 year dual tranche euro transaction. However, some debt bankers away from the deal felt the 20 year had come at a hefty spread.