UniCredit

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.

Poste Italiane, the Italian state-owned post office, narrowed on Wednesday the price range of its initial public offering in Milan. The bookbuild is set to close on Thursday.

Midcap Schuldschein issuers already have one eye on 2016 as this year’s biggest borrowers continue to enjoy oversubscribed order books.

Croatian state-owned power company Hrvatska Electroprivreda (Hep) has bought back over 80% of its debut dollar deal, and on Monday morning opened books on a new transaction to fund the purchase.

Deezer, the French music streaming service, opened the book for its IPO on Thursday morning, as the autumn’s busy season of flotations continues to produce successes, failures and deals that get done at weakened terms.

A Berlin Hyp €500m five year was the success story of covered bonds issued this week from banks in the eurozone, standing out among deals that also included bonds from Caisse Francaise De Financement Local (Caffil) and Raiffeisenlandesbank Niederösterreich-Wien (RLB-NW).

Senior SSA bankers are fretting that situations such as this week's clash between two Dutch agencies, which drove one of the pair to pull its deal, could become unavoidable, writes Craig McGlashan.

Kuka, the robotics and automation company headquartered in Augsburg, Germany, has issued a €250m Schuldschein note.