UniCredit

NordLB reopened a four year public sector backed Pfandbrief on Wednesday in a move which locked in exceptionally cheap funding. But because the deal was largely placed with captive German savings banks, it offered little clue about the state of demand for euro covered bond benchmarks.

The European Financial Stability Facility looks set to again walk alone in the euro benchmark market for SSAs, after sending out requests for proposals on Wednesday.

Harman International Industries, the US audio equipment manufacturer, made its euro bond debut on Wednesday, putting together a sub-benchmark deal that will be used in part to finance its acquisition of part of Bang & Olufsen.

Schenk, the German measuring and processing technology manufacturer, set out price guidance on its €605m refinancing loan at a bank meeting on Tuesday.

Gazprom Marketing & Trading, the London-headquartered unit of Russian gas company Gazprom, is in the market for a $350m one year revolving credit facility.

Lenzing, the Austrian maker of cellulose fibre, has signed a €150m Schuldschein, refinancing its existing Schuldschein programme down from €200m.

Bavarian utility company Stadtwerke München has signed a €500m syndicated revolving credit facility. While it has issued many Schuldscheine, this is its first syndicated loan.

Schenck Process Group, the German measuring and processing technology manufacturer, has hired three banks for a €605m refinancing loan and set a bank meeting for Tuesday.

Volatile markets this week did not deter German car parts maker Mahle from issuing a bond on Wednesday, and it drew plenty of interest for the seven year deal.

The commercial and investment banking unit of UniCredit Group was a top contributor to the group’s €512m in net profit in the first quarter of 2015.

Just one small covered bond emerged from newcomer Natixis Pfandbriefbank this week, while several others mandated for sub-benchmark deals.

Imperial Mobility, the Johannesburg listed vehicle leasing and logistics company, has signed a €350m loan with banks.