Credit Agricole is poised to become the first bank to issue a new form of senior debt, thwarting expectations that BNP Paribas would open the new market and providing a much-needed template for what is expected to become a new European standard.
UniCredit is on course to raise more than €5bn from asset sales and is expected to follow that up by raising about €13bn from a rights issue this week to bolster its capital, people familiar with the matter and analysts said.
Banca Monte dei Paschi di Siena may have little option but to ask for a government bailout after the European Central Bank rejected a plea to extend the deadline on its €5bn recapitalisation efforts by three weeks.
Bankers were left mulling issuance prospects after the ECB announced it would cut its monthly purchases by €20bn from April.
Equity-linked bankers took an innovative approach to dealing with UniCredit’s remaining 7.3% stake in Bank Pekao, following the Italian bank’s disposal of 32.8% of the Warsaw-listed bank to PZU and Polish Development Fund.
Poland could become the first sovereign to issue a Green bond, having mandated banks for a euro-denominated five-year issue, potentially pipping France to the post.
A blowout bond deal from state-owned Mexican oil company Petroleos Mexicanos last week has stoked hopes of a strong start to 2017 for Latin American issuance.
JBS is set to return to international capital markets in the first half of 2017 with a New York Stock Exchange IPO after government shareholders shot down its plan to redomicile in Ireland. The sprawling meatpacking empire will be carved up with its international operations floated while the bulk of its Brazilian operations remain listed in Sao Paulo.
Chinese local government funding vehicles have dominated Asian G3 issuance in recent weeks, despite repeat warnings that the sector no longer benefits from direct state support.
State-owned Bank Negara Indonesia has returned to the loan market for the first time in nearly a decade, becoming the latest Asian bank borrower to take advantage of the cheap funding on offer.