Intesa Sanpaolo
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Qatar National Bank, by assets the largest bank in the Middle East and North Africa, has raised a dual tranche $3.5bn syndicated loan, one of the largest emerging market loans signed this year. -
Inmobiliaria Colonial, the Spanish office real estate company, has signed a €1bn sustainability-linked loan, wrapping up a €2bn fundraising spree from the group.
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Cellularline, the Italian smartphone accessories company, has signed a €70m loan facility, with a chunk of the funding destined for M&A activity.
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Enav, the Italian air navigation company, has signed €150m of sustainability-linked loans, as a rise in coronavirus cases globally has heaped even more pressure on the airline industry’s outlook for next year.
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UnipolSai Assicurazioni was nearly three times subscribed for a restricted tier one (RT1) this week — the first of its kind in Italy. An attractive coupon helped to offset any concerns about Italian sovereign risk or a lack of liquidity in the RT1 market.
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Italian insurer UnipolSai Assicurazioni will be hoping to launch its first restricted tier one (RT1) bond this week, after which it could retire a pair of its lower quality tier two instruments.
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A pair of European banks approached the euro senior market in different ways on Tuesday: Iccrea targeted a smaller pool of investors with its delayed callable debut, while BFCM went big with a blowout long 10 year.
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Crédit Agricole and Nykredit Realkredit were able to push aggressively on pricing in the additional tier one (AT1) market this week, as they took advantage of favourable supply and demand dynamics.
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The Single Resolution Board (SRB) will not force all banks to make a linear progression towards their minimum requirements for own funds and eligible liabilities (MREL), in an effort to be more flexible during the Covid-19 pandemic. But financial institutions have still called on the authority this week to do more to prevent MREL from becoming a barrier to lending.
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Private equity firms Bain Capital, Advent International and Clessidra have completed a huge sell-down of stock in Nexi, days after the Italian payments company unveiled plans for a €4.6bn merger with Sia, a close rival.
