Pillar 2: see or not to see
Disclosing Pillar 2 ‘guidance’ is discretionary and perhaps even discouraged, but banks risk falling foul of speculation if they choose to keep their full supervisory capital demands a secret.
View ArticleMore time needed on variation margin, says ISDA
Derivatives market participants should be given a relief period on variation margin rules after the slated March 1 deadline, the International Swaps and Derivatives Association has said, adding its...
View ArticleLonza's Sfr900m block for Capsugel takeover is covered
This evening, Lonza, the Swiss pharmaceutical company, has launched a 9.4% capital increase through an accelerated bookbuild led by UBS and Bank of America Merrill Lynch.
View ArticleZoopla gets £77m for acquisition in block, with no discount
Zoopla Property Group, the UK owner of property search websites, is conducting an accelerated bookbuild tonight to raise £76.5m of new capital, to buy Hometrack.co.uk, a property information service.
View ArticleBumper 8 thrives with swollen sterling book
A UK auto ABS deal from LeasePlan was priced on Tuesday, with the £400m senior tranche oversubscribed by over two times, underlining the positive tone in the European ABS market as 2017 gets underway.
View ArticleBlock rain includes Axel Springer and TMK of Russia
Tonight’s hail of block trades includes, besides the Lonza and Zoopla deals, at least two other transactions.
View ArticleRMBS Market embraces new STACR structure
Freddie Mac priced its first credit risk transfer (CRT) RMBS deal of 2017 on Tuesday, with a new structure offering more subordinate debt embraced by investors and saving money for the government...
View ArticleUpstart issuer readies ABS debut
Online personal loan platform Upstart is looking to do a debut ABS transaction in the second quarter of 2017.
View ArticleInvestors pile into Mosaic solar loan ABS
California-based solar finance company Mosaic sold a $138.95m ABS transaction late last week, with sources saying the deal was heavily oversubscribed by investors.
View ArticleBrenntag extends funding profile in good conditions
Brenntag, the German chemical distributing company, extended and improved its syndicated loan financing on Tuesday. Its intention was to lengthen maturity profile, but strong conditions and improving...
View ArticleNatixis adds to corporate bond syndicate team
Natixis has added another banker to its bond syndicate desk in Paris, to cover corporate bonds.
View ArticleOntario shows depth of dollars for those who dare
The Province of Ontario sold a five year global bond on Wednesday, shattering the silence in public sector dollar markets with a $2.5bn trade.
View ArticleADB makes muted return to euros
Asian Development Bank's first euro syndication in three years enjoyed only tepid success on Wednesday, as observers wondered if the 20 year trade was fully subscribed.
View ArticleGOP lawmaker tells Fed to stop negotiating on global regs
A letter from a top Republican lawmaker has asked that Federal Reserve Chair Janet Yellen halt participation in all international agreements aimed at setting global financial regulatory standards.
View ArticleFSB lays down CCP resolution guidelines
The Financial Stability Board has set out guidelines that it wants authorities to follow in their frameworks to resolve failing central counterparties (CCPs).
View ArticleDetsky Mir IPO covered, prices on Tuesday
The IPO of Detsky Mir, Russia's largest toy retailer, is covered. It is set to be priced on Tuesday.
View ArticleBlock onslaught continues with Worldpay, Hella Hueck, Buwog sales
The vibrant activity in the equity block trade market this week is continuing tonight, with three more selldowns of stock in European companies, including the last sale of stock in Worldpay, the UK...
View ArticleBanks face "capacity crunch" on margin rules, claims report
Weaker than expected uptake of an ISDA protocol has left banks well behind schedule to meet the March 1 variation margin deadline and facing a “massive capacity crunch in February”, according to a...
View ArticleSoFi markets first dual compliant MPL deal
SoFi is out with a $561m student loan refinancing transaction, the first marketplace loan ABS offering to be compliant with both European and US risk retention rules.
View ArticleGoldman selling €750m of Dong caps big week for equity blocks
Europe’s equity block trade market kicked into a higher gear this week, with a rush of deals including big trades in Lonza, Worldpay and Dong Energy. The Dong trade on Thursday night, worth Dkr5.56bn...
View Article