Italy
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Euroclear mistakenly credited investors with interest on one of UniCredit’s legacy capital deals this week, shortly after the Italian bank made a controversial decision to skip the coupon. The asset servicer is in the process of reversing its error. -
Gas and heating components manufacturer SIT Group has sold a €40m private placement to Pricoa, which has margins tied to the Italian company’s sustainability.
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UniCredit will skip a coupon on one of its legacy capital instruments this month, after stating that a net loss in 2020 means it no longer needs to make the payment. Investors were surprised by the decision, which many saw as a U-turn.
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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.
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The European Central Bank issued several warnings about the banking sector in its Financial Stability Review (FSR) this week, as it drew attention to corporate zombification, a new capital markets exodus and an undesirable tightening in lending standards.
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Nerio Alessandri, the Italian billionaire founder and CEO of Technogym, has reduced his stake in the high-end gym equipment manufacturer via an accelerated bookbuild.
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This week, Antares Vision, the Italian technology company, has completed a large share sale on the Italian stock exchange which will act as a re-IPO.
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Permanent TSB added to a recent run of Irish bank supply on Wednesday, tapping into strong investor demand with a new tier two in the euro market.
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Antares Vision, the Italian technology company, has set the price range on a share sale to increase its liquidity in what will effectively be a re-IPO of the company. The company was given an early boost with Capital Group committing to act as a cornerstone on the share sale.
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Italy returned to the dollar market this week with a dual tranche offering of new three and 30 year bonds, with the latter extending the sovereign’s curve in the currency to 2051.
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Euronext, the European stock exchange operator, has launched its long-awaited €1.8bn rights issue to part-fund its acquisition of Borsa Italiana Group from the London Stock Exchange Group.
