Spain

Criteria Caixa, the holding company which manages the assets of Spain’s La Caixa Banking Foundation, has issued a €200m bond exchangeable into shares in Cellnex, the telecoms towers company.

Spanish lender Bankinter paid a visit to the tier two market for the first time in four years on Tuesday, raising €750m of capital while paying next no new issue premium.

Spain’s Instituto de Crédito Oficial hit the market for its third green bond on Monday, giving its newly updated framework for the product its first airing.

Antonio Cordero Gomez, chief financial officer of Instituto de Crédito Oficial, spoke to GlobalCapital about the need for continued innovation in the world of ESG labelled bonds, and about Ico’s role in fighting the economic consequences of coronavirus.

The Instituto de Crédito Oficial, Spain’s promotional bank, is holding a series of investor meetings to promote a new green bond.

Autogrill, the Italian food and beverage retailer, has launched a €600m rights issue to position its balance sheet for the re-opening of the economy after the Covid-19 pandemic.

A host of initial public offerings were launched on Monday as banks try to squeeze out a few more deals before the market begins to break for the summer. A fatigued investor base, though, remains highly selective and sources say only the highest quality offerings are likely to succeed.

Primafrio, the Spanish freight logistics company specialising in the refrigerated transportation of fruits and vegetables, has launched an IPO on the Spanish stock exchange.

Portuguese insurance company Fidelidade is looking to sell a tier two bond this week, three years after first exploring the idea of issuing a subordinated debt instrument.

CaixaBank was set to launch its first sterling bond on Tuesday as it dipped its toes into a market that is now on course for its busiest week this year to date.

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.

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.