Intesa Sanpaolo

A group of Italian insurance executives have teamed up to launch a new special purpose acquisition company on the Alternative Investment Market of the Borsa Italiana. The €200m IPO is due to close later today.

Euronext, the Dutch-registered, Paris-headquartered stock exchanges group, brought a €1.8bn triple tranche bond issue on Thursday. Investors showed much larger appetite for the shortest maturity as inflation fears linger.

Banco Santander was targeting two currencies for additional tier one debt on Thursday, following closely behind a blowout euro deal for Deutsche Bank.

Eni, the Italian oil and gas company, got its chunky €2bn hybrid capital issue comfortably oversubscribed on Tuesday, after a similar success for Orange last week. Corporate bond investors are piling money into anything that offers higher returns.

Europe’s corporate bond market hosted a debut sustainability-linked bond and two multi-part trades this week, despite overall issuance winding down as earnings season gets under way.

Aeroporti di Roma made its debut in the sustainability-linked bond market on Thursday, with a structure that allows for several shades of performance, rather than the simple flat rate 25bp coupon step-up usually used.

Deutsche Telekom dialled in to the Aussie dollar market after an almost two year absence this week, extending its curve to 2041.

Esoteric names from the FIG market are expected to fill the post-Easter issuance pipeline to take advantage on the constructive market conditions on offer.

Three banks jumped into the euro senior market after the Easter break on Tuesday, benefitting from stable demand and printing with low new issue concessions.

South African lender Investec has secured a syndicated loan facility, with a consortium of 29 international banks. Bank borrowers are continuing to lean on their relationship lenders in South Africa, though the environment in the country remains challenging.

Financial issuance got underway in the euro primary market on Wednesday, with borrowers keen to bring forward ESG-labelled bonds in the first deals of the week.

India’s Adani Green Energy has raised a $1.35bn green loan to support the construction of projects under its renewable portfolio.