UniCredit

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

Ferrovie dello Stato Italiane, the Italian state-owned railway company, has refinanced its main bank line, bumping up the size to €2.5bn as the company earmarks some of the money for capital expenditure.

European companies piled into the bond market on Wednesday with a variety of deals that favoured duration, as buoyant sentiment returned after being sapped by the US Federal Reserve last week.

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.

UniCredit revealed the mandate for its debut green bond on Wednesday, which is set to be launched following the completion of a three day roadshow.

Hybrids and crossover rated corporate bond issuers hit screens this week, as the thirst for yield returned to the European market.

German energy storage companies populated the loan market this week, with battery maker Varta and solar cell company Meyer Burger raising €420m between them.

Naturgy Energy, the Spanish gas and electricity utility, has doubled the size of its revolving credit facility in an amend and extend exercise, the latest demonstration that the balance of power in the loan market remains firmly on the side of the borrowers.

Europe’s high grade bond market hosted issuers at both ends of the rating spectrum on Wednesday, with Italian transmission company Terna and Singapore’s Ascendas Reit finding ample demand for their higher rated debt.

Varta, a German battery maker, has signed a debut €235m sustainability-linked bank loan package, making the margin dependent on an improvement of its rating with a second party opinion provider.

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.

Two European animal healthcare companies have announced their intention to float in recent days. Bankers hope that the fast growing sector will offer something different in a crowded pipeline of new stockmarket listings in the region.