UniCredit
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UniCredit plans to make labelled financing a regular part of its funding across the group, following the launch of its debut labelled bond this week. Its first deal proved popular as it stacked up more than €3.25bn of demand. -
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UniCredit took a large chunk of its additional tier one (AT1) funding off the table ahead of the summer break with the sale of a €750m note on Wednesday.
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BNP Paribas has retained its place at the top of the EMEA loan league table for the first half of 2021, but its market share is much smaller than for the same period last year.
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The European Union kept the strong momentum going for its second Next Generation EU (NGEU) transaction on Tuesday, although it did surprise some market participants by limiting the size of the dual tranche sale from the outset.
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The EU on Monday announced the mandate for its second jumbo Next Generation EU deal, which includes four banks who were suspended for the first transaction for violating antitrust rules.
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UniCredit was able to stack up more than €3.25bn of demand behind its inaugural green bond on Monday, landing the note 10bp through its conventional curve.
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Altana, a German speciality chemicals company, has moved its main bank line to a sustainability-linked structure, with the borrower negotiating a margin in line with its pre-coronavirus pandemic levels.
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A smattering of smaller euro issuers made the most of an attractive window this week, as they looked to use the stable conditions to take “some risk off the table” ahead of the summer break.
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Europe’s high grade corporate bond market had a patchy week of issuance, with borrowers dancing around the overhang from the US Federal Reserve meeting and Thursday’s Bank of England equivalent.
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UBS sold its first green bond this week, bringing the deal at the tightest euro senior spread of the year so far. Further labelled issuance is set to follow, with UniCredit preparing a green debut of its own.
