UniCredit
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Financial institutions are set to spend the summer months monitoring conditions for issuance in order to continue funding this year or to frontload funding needs for next year, according to deal arrangers. -
Following the sale of its first government bond targeted exclusively to retail investors last week, Italy may issue another such bond before the end of the year, depending on the evolution of its funding needs, which are still not finalised.
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UniCredit attracted plenty of demand for a €1.25bn sale of non-preferred senior debt in euros on Wednesday, as issuers took advantage of strong funding conditions ahead of the summer period.
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Copenhagen Infrastructure Partners, the Danish renewable energy investor, has signed a €380m green loan to finance a wind farm in Spain, as analysts say renewable energies are now cheaper for consumers than their fossil fuel counterparts in major markets.
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Emerging market corporate bond supply grew on Thursday, with a strong showing from the Central and Eastern European region added to by Czech Gas Networks.
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Tradition’s Trad-X dealer-to-client central limit order book has won two more members, as UniCredit and Actiam have joined the electronic rates trading platform.
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Delivery Hero, the German online food ordering marketplace, has returned to the equity-linked market six months after its debut to issue a jumbo €1.5bn dual-tranche convertible bond to fund M&A opportunities.
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Spanish issuers were out in Europe’s corporate bond market on Monday, with Cepsa and Merlin Properties raising debt, as bankers and analysts expect a few weeks of “opportunistic” issuance in the run-up to earnings blackouts.
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NRW.Bank’s inaugural social bond sparked a flurry of 15 year trades this week as a flattening French curve and the positive yields on offer helped spur on demand, with three issuers opting to follow the German agency’s successful trip to the maturity on Wednesday.
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Bayer, the German life sciences company, enjoyed blow-out demand for its €6bn multi-tranche bond issue on Wednesday, days after agreeing to pay up to $10.9bn to settle a lawsuit over claims its weedkiller, Roundup, causes cancer.
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The 15 year tenor is the flavour of the week in the SSA market. Three issuers have mandated for deals at the tenor so far, following on from NRW.Bank’s successful trip to the maturity on Tuesday.
