Secondary pricing table: featuring Alberta's $2.25bn December 2019
Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
View ArticleConfusion as MPS rescue goes down to the wire
Uncertainty surrounds the attempt to recapitalise Banca Monte dei Paschi di Siena, as news media reported today that the European Central Bank had denied its request for an extension of the deadline...
View ArticleLisin sells 1.5% of NLMK to gain MSCI inclusion
Vladimir Lisin, the Russian billionaire, has sold a 1.5% stake in Novolipetsk Steel (NLMK), the Russian steel producer he controls, for $156m, through an accelerated bookbuild launched on Thursday night.
View ArticleInvestors feeling squeezed by CLO reset, refi trend
US CLO investors say they are feeling squeezed by the trend of managers resetting and refinancing deals, reissuing them with looser terms and less attractive spreads.
View ArticlePrecious metal ABS hits primary market
Monex Credit Company, a precious metals dealer, is marketing a rare offering backed by purchase contracts for silver, gold, platinum and palladium.
View ArticleCovered bonds to play anchor role in the year ahead
Eight heads of funding and two DCM heads spoke to GlobalCapital about covered bonds and regulatory funding, the impact of the Term Long Term Refinancing Operation, the prospective end to the covered...
View ArticleBoCom Leasing launches rare repackaged aircraft ABS
Bank of Communications Financial Leasing opened the week with a rare structured finance transaction on Monday, attracting bids for a $300m dual-tranche offering backed by loans that are secured by...
View ArticleLoan Ranger: wintry chill
Last week began with a cheery festive glow but soon changed to a cold chill once discussion turned to the challenges facing the market in 2017.
View ArticleP&M Notebook: Suisse cheese
You can’t fault Credit Suisse’s determination, or at least, that of its chief executive, Tidjane Thiam. But each time he sets a tougher target, the world gets tougher still.
View ArticlePoland on track to issue first green bond
Republic of Poland has opened books on its debut green bond, marketing the deal with a “sensible” a 20bp-25bp premium, according to emerging market bankers.
View ArticleUnrated Eurohold Bulgaria markets bond with 8% handle
CEE insurer Eurohold Bulgaria has opened books on a five year Eurobond at low to mid 8%. The unrated issuer is expected to print as early as this week.
View ArticleApollo shines LBO light on Philips lighting businesses
Philips is set complete the divestment of its lighting business next year, with US private equity firm Apollo Global Management agreeing to acquire its Lumileds LED unit at a $2bn valuation.
View ArticleLocal banks hold up Allegro LBO loans
Slow responses from Polish banks have delayed syndication of the Z5.14bn (€1.16bn) of loans for the leveraged buy-out of Allegro, the online marketplace, with demand for the deal from local lenders...
View ArticleSenior non-preferred gets final go-ahead in France
French banks are free to issue their first ever senior non-preferred bonds, after Sapin II was finally passed into French law on December 10.
View ArticleCovered bond market set to shrink again in 2017, says BBVA
The covered bond market is expected to shrink by around €12bn in 2017, according to analysts at BBVA.
View ArticleMPS to re-open debt swap in minute cash dash
Banca Monte dei Paschi di Siena may re-open its debt-for-equity swap for retail investors, as part of a last-ditch attempt to complete its rescue plan and prevent its bondholders suffering losses in a...
View ArticleChina First Capital targets HK$1bn via placement
China First Capital Group is looking to raise up to HK$1bn ($128.9m) from a placement of fresh equity, equal to more than 10% of its outstanding stock.
View ArticleRMB coming of age in derivatives market, says BIS
The Bank for International Settlements’ triannual survey found that the renminbi has risen above other emerging market currencies in trading patterns across spot and derivatives, BIS said in a detailed...
View ArticleRQFII poised to end 2016 in disappointment
The renminbi qualified institutional investor (RQFII) is set to end 2016 on a disappointing note with the combined value of quotas awarded amounting to roughly half of last year’s total.
View ArticleNovelis mandates 10 for $1.8bn Asia refi of US TLB
US based-Novelis, part of Indian company Aditya Birla Group, has firmed up a syndicate of 10 lenders to arrange an Asia loan that refinances a $1.8bn US term loan B from last year.
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