Santander

UniCredit plans to make labelled financing a regular part of its funding across the group, following the launch of its debut labelled bond this week. Its first deal proved popular as it stacked up more than €3.25bn of demand.

Voltalia, a French renewable energy company, has signed a €170m sustainability-linked loan, with the deal adding to the growing trend of second party opinion providers becoming a central part of ESG finance.

Vinci, the French concessions and construction company, had Europe’s high grade corporate market to itself on Wednesday, with the borrower having an easier time slashing its spread for 10 year money during bookbuilding than lower rated issuers in recent days.

UniCredit took a large chunk of its additional tier one (AT1) funding off the table ahead of the summer break with the sale of a €750m note on Wednesday.

Acciona Energia, the Spanish renewable energy company, is due to price its IPO at €26.73 a share, the bottom of the initial range, having closed order books on Tuesday afternoon, according to sources close to the transaction.

Greenvolt, the Portuguese biomass energy operator, is preparing to go public on the Lisbon stockmarket, having announced its intention to float this week.

A smattering of smaller euro issuers made the most of an attractive window this week, as they looked to use the stable conditions to take “some risk off the table” ahead of the summer break.

Rating: A3/—/A

Generali was in the market for a tier two bond with a sustainability label on Thursday, its first issue from its newly minted framework.

Orange, the French telecoms company, launched €1.5bn of conventional bonds in two tranches on Wednesday, as the company’s group treasurer said he was waiting for the sustainability-linked bond market to mature before joining the quickly growing debt niche.

Yorkshire Building Society paid a rare visit to the euro market on Tuesday as it offered a small premium for a €600m preferred senior deal. Bankers expect issuance to slowly dry up over the next few weeks as the market prepares for the summer break.

Senior and covered bond plans were flowing into the deal pipeline on Monday, with issuers keen to buck the softer tone and print before the start of the summer break.