15 December 2020

Recognition for raising €5.2 billion on behalf of key clients over summer

2:00 Min

As equity capital markets dusted themselves off in the wake of this year’s Covid volatility, issuance of convertibles boomed.

During this period, the new-look equity-linked team at UniCredit played a prominent role in the product’s resurgence – climbing into the top five in the European equity-linked league table for the first time and being recognised as The Banker’s ‘Team of the Month’ in the process.

“We thought at the start of the crisis that this wasn’t going to be a great year, that markets would go into hibernation,” says Jana Hecker, UniCredit’s Global Head of Equity Capital Markets. “Instead, we have been running at 200% capacity.”

UniCredit’s corporate network in Germany has been integral to the bank’s recent success – with 19 ECM transactions book run in Germany year-to-date, UniCredit is not only the most active ECM house but also the leading German ECM bank.

“[The network] has given us a seat at the table with certain corporate clients, allowing us to get closer to issuers and better understand their capital needs,” Ms. Hecker adds.

The team remains in discussions with other clients who are looking at this product and anticipates deals stretching into the first half of 2021.

“We expect the market to remain active, though perhaps not as active as in the first half of 2020,” predicts Matthias Janssen, Head of Equity-Linked Products. “We will see some very large transactions.”