UniCredit

Helaba and OP Corporate Bank each took a plunge into the preferred senior bond market on Tuesday, with spreads in the asset class having outperformed other bank funding products in recent weeks.

A bevy of high grade corporate bonds hit screens on Tuesday, as Europe’s syndicate bankers said that “no one cares” about the German Constitutional Court verdict throwing into question the Bundesbank's ability to take part in the eurozone's quantitative easing.

Banco Santander and Rabobank led senior bond supply in Europe this week, both issuing well-received non-preferred deals while Crédit Mutuel Arkéa went for the preferred format. National champions and other strong banks are lining up to issue while market conditions are conducive for deals, but lesser credits remain on the sidelines.

The German state of North Rhine-Westphalia made its first visit to the offshore renminbi market earlier this week, continuing this year’s SSA dim sum shopping spree.

Crédit Mutuel Arkéa paid a 'generous' 7bp of new issue premium for a preferred senior bond on Tuesday, taking advantage of a quiet market to attract attention from investors.

The coronavirus pandemic is shaking up the competitive landscape in capital markets, as some firms find it harder to commit to deals — but there are winners, too, and one of the most notable cases is BNP Paribas’s presence in the syndicated loan market.

Firms can spend vast amounts of time window-dressing their balance sheets to look the best they possibly can within the limits of reporting regulations. Within those limits, everything goes.

New ECM head at UniCredit — NIB treasurer heads to SEB — Mills takes up newly created position at UBS

Jana Hecker, most recently at Deutsche Bank, has been appointed global head of equity capital markets at UniCredit, alongside other personnel changes in the Italian bank’s ECM business.

Europe’s high grade corporate bond market faced one of its biggest tests on Wednesday, with France’s Auchan, which operates in the heavily disrupted retail sector, getting a deal away with one of the larger new issue concessions seen in recent weeks.

Italian-American car company Fiat Chrysler has drawn down on its €6.25bn revolving credit facility to shore up its finances during the Covid-19 pandemic, though the company has left a new bridge loan untouched.

Austria made a rare trip to the dollar market last Thursday as it raised $600m via a reverse enquiry-led private placement, GlobalCapital understands.