UniCredit

A series of German sub-sovereigns have printed deals in euros this week, adding to hopes that the market for the currency is slowly returning to strength after weeks of difficulty.

This week could be the last opportunity for borrowers to bring euro deals before the market shuts down for summer, according to SSA bankers and issuers — and some trades are already on the production line.

Germany dominated covered bond supply this week with four banks raising €2.5bn after collecting orders of nearly €6bn in total.

Beni Stabili, the Italian property company largely owned by Foncière des Régions, priced on Thursday a €200m convertible bond at a 0.875% coupon and 32.5% conversion premium.

Private equity firm Pamplona has completed the syndication of a €217m debt facility to buy Budapest-headquartered Partner in Pet Food (PPF).

Dominique LeMaire, global head of high yield capital markets at UniCredit, has left the firm, and is headed to a rival later this year.

Italian gaming company Snai on Tuesday issued a €110m bond to support its acquisition of a domestic competitor, Cogemat.

Cellnex Telecom, the broadcasting tower business floated by Abertis Infraestructuras in May, marketed and sold its first bond issue on Monday, raising €600m.

The corporate bond pipeline is swelling again as Transport et Infrastructures Gaz France, the French gas distribution and storage company, mandated banks on Monday for its second ever euro deal.

HSBC has appointed Tim Spray as head of loan syndications EMEA, less than three months after he was given a new role at UniCredit.

Metalloinvest’s $750m loan was no picnic for lending banks — the Russian miner self-arranged the deal and pushed hard on pricing — but this tenacious deal will not encourage a run of Russian deals soon, according to bankers.

Deutsche Wohnen, the German property company, issued its first conventional bond on Thursday, benefiting from strong market sentiment after Greece’s parliament approved a new bailout package.