UniCredit

Six European covered bond borrowers launched deals worth a total €5bn this week and, despite setting new spread records, all were easily digested and performed well.

The Italian state sold a 5.74% stake in power company Enel through a €2.2bn block trade over Wednesday night. It was very punchily underwritten and the leads were left long - but said they were happy.

Constantia Flexibles, the Austrian food packaging company, cut margins on its €1.15bn leveraged loan for the second time since hitting its deadline for commitments.

UniCredit issued its inaugural conditional pass through covered bond on Thursday flat to where it would have priced a deal from its soft bullet programme.

The Italian state sold a 5.74% stake in power company Enel through a €2.2bn block trade over Wednesday night. It was very punchily underwritten and the leads were left long, but said they were happy.

Croatia has picked four banks to arrange a euro-denominated bond. The roadshow for the deal starts on Monday.

Prosafe, a Norwegian company which operates semi-submersible accommodation vessels called flotels, has raised $1.3bn of loans to refinance $1.5bn of debt.

OVS, the Italian clothing retailer, on Wednesday night priced and allocated its €414m Milan IPO, after a slight delay, giving it a valuation of about €931m.

UK survival equipment provider Survitec is aiming to allocate its £250m loan on Friday, as investors review the deal’s documentation.

Croatia has picked four banks to arrange a euro-denominated bond. The roadshow for the deal starts on Monday.

Survitec has reverse flexed its £250m acquisition term loan, the second leveraged loan borrower to tighten terms this week, as investors' options for paper remain slim.

Constantia Flexibles, the Austrian food packaging company, has cut margins on its €1.15bn leveraged loan for the second time since hitting its deadline for commitments.