UniCredit
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There are worrying signs in the way Banca Monte dei Paschi di Siena’s tier twos have traded after UniCredit signalled its interest in the bank. -
Sports teams could be among the Covid-battered industries looking to tap the capital markets later this year and next, bankers believe, as Italy’s elite Juventus Football Club prepares for a €400m rights issue to repair its finances.
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Banca Monte dei Paschi di Siena’s capital instruments are at risk of being zeroed after UniCredit announced this week that it could buy the state-owned Italian lender on extremely favourable terms. Market participants are more optimistic on Monte’s senior debt, which would rally strongly if included in a merger.
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Andrea Orcel is looking to clinch a deal for Unicredit to acquire parts of stricken Italian lender Banca Monte dei Paschi di Siena (MPS) in the early part of September after revealing it was negotiating with the Italian government.
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UniCredit has quickly junked Jean Pierre Mustier’s legacy and forged a new strategy based on greater accountability, but the newly unveiled corporate and investment bank retains plenty of the character of the old one, writes David Rothnie.
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Raben Group, the Dutch-Polish logistics firm, closed its first sustainability-linked syndicated loan for €225m on Friday.
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Vilogia, a French social housing company, has shrugged off being downgraded by Moody’s and having its rating withdrawn by Fitch, printing a rare floating rate note that was driven by a reverse enquiry.
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Leasys, an Italian car rental company, and similarly rated commercial property investor Lar España Real Estate competed for investor attention on Thursday with debut green deals, in a major test for the type of esoteric issuers that typify the slower summer market.
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LBBW priced its first euro green non-preferred bond in two years at one of the tightest spreads of the year so far for the format, while still offering investors scope for secondary performance.
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UniCredit’s CEO Andrea Orcel has revealed further refinements to the bank’s organisational structure that are aimed at increasing the independence of its new regional divisions.
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The IPO of Novem Group, the German car parts supplier, is set to be priced at €16.50 a share, according to sources close to the deal.
