UniCredit
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UBS Group opened books on new additional tier one (AT1) on Wednesday, as it looked to hoover up demand from yield-starved investors in the Reg S dollar market. -
Azzurra Aeroporti, an acquisition vehicle that bought a majority stake in a French airport, made its debut in the bond markets on Tuesday, achieving decent demand despite some dire warnings emerging about the medium term future of industries linked to air travel.
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Russian steel producer Novolipetsk Steel (NLMK) has raised a €600m syndicated loan, as experts say that the continued presence of Russians in the market during the crisis is down to the resilience they were forced to acquire after years of sanctions.
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KfW will lead the charge in the euro public sector bond market on Tuesday with a €3bn green bond that will match its biggest ever deal in the format. Eurofima and the State of Berlin are also preparing to bring bonds to the euro market.
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The MTN market expects a busy summer in Asia as investors look to make up for time lost to the coronavirus pandemic at the start of the year. In Europe, things are starting to slow down, however, there are signs that the credit market could open up over the coming weeks.
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Iberdrola and Copenhagen Infrastructure Partners signed separate loans to develop renewable energy projects in Spain, as analysts say renewable energies are now cheaper for consumers than their fossil fuel counterparts in major markets.
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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.
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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.
