UniCredit

Portugal began the price discovery process for its new 10 year syndicated bond on Wednesday close to fair value in an effort to give as much clarity to investors as possible on the final level, according to lead managers.

Romania this week returned to the international debt markets to issue euro-denominated bonds.

Synlab, the German laboratory diagnostic services company, has announced its intention to float on the Frankfurt Stock Exchange.

Italy and Portugal are the first two eurozone sovereigns out of the blocks for syndications following the Easter break, with the former looking to extend its curve by a further five years.

Three banks jumped into the euro senior market after the Easter break on Tuesday, benefitting from stable demand and printing with low new issue concessions.

JDE Peet’s, the Dutch coffee and tea company, and German retail and travel cooperative Rewe Group became the latest European borrowers to move their bank lines to be priced off sustainability-linked metrics, linking the margin on a combined €3.25bn of debt to ESG KPIs.

Deutsche Wohnen continued the seemingly insatiable drive for debt from European investment grade real estate companies on Monday, while Canary Wharf lined up its debut green deal to come as soon as Tuesday.

FACC, the Austrian aerospace components company, has amended the financial covenants on its syndicated loan, as large chunks of the EMEA airline sector continue to renegotiate debt tests.

BPER Banca overcame its sub-investment grade rating on Thursday, attracting plenty of demand for an inaugural social bond that will fund Covid-19 related lending in southern Italy.

E.On, the German electricity company, became the second corporate issuer in as many days to issue green bonds in line with the draft EU Taxonomy. It matched Verbund by printing them flat to fair value.

Financial issuance got underway in the euro primary market on Wednesday, with borrowers keen to bring forward ESG-labelled bonds in the first deals of the week.

Trafigura, one of the world’s largest commodity traders, has completed its European bank facility refinancing to add sustainability-linked targets to its debt, a month after the company made its debut in the Schuldshein market.