Ericsson flies despite chunky price revisions
Telecoms company Ericsson saw investors pile into a €1bn dual tranche transaction on Monday even after the issuer dragged pricing in by around 35bp, in an execution that bankers say highlights how...
View ArticleUnilever’s bonds snap back after buyout talks fizzle
Consumer goods company Unilever’s newest bonds have recovered almost all the losses sustained after Kraft Heinz made - and then promptly withdrew - a $143bn takeover bid for the company.
View ArticleKlaus encounters for the second time at ESM
The European Stability Mechanism’s board of governors on Monday reappointed ESM managing director Klaus Regling for a second five year term, which will start on October 8.
View ArticleEFSF making brave second stab at long end
The European Financial Stability Facility (EFSF) has surprised SSA bankers by returning to the long end with one tranche of a deal it plans to launch on Tuesday.
View ArticleKensington eyes mortgage prefunding with new Finsbury RMBS
Kensington Mortgage Company mandated leads for its first RMBS deal of the year on Friday, with the new Finsbury Square transaction including a mortgage prefunding reserve for the first time.
View ArticleSpectre of redenomination sparks spread widening between CDS contracts
Eurozone investors are beginning to hedge for the possibility of France, Italy or Greece leaving the euro, with discrepancies emerging between two sets of standardised contracts.
View ArticleAir Berlin refinances CBs with the help of Etihad
Air Berlin, the unprofitable German airline, has successfully raised the money it needs to refinance its €140m 6% convertible bonds, puttable in March, despite bondholders shunning the exchange offer.
View ArticleSIX Swiss Exchange welcomes new clearing member
European Central Counterparty NV — EuroCCP — has become the third central counterparty for clearing services on the SIX Swiss Exchange.
View ArticleANZ poaches from BNP for rates strategy
ANZ has appointed Jennifer Kusuma as senior Asia rates strategist in Singapore, hiring her from BNP Paribas.
View ArticleNordic Capital reopens blocks market with Skr1bn Resurs sale
Tonight, Nordic Capital has launched the first selldown of shares in Resurs Holding, the Swedish retail finance company, since its IPO in April 2016.
View ArticleGreen mortgages can grow without a regulatory subsidy
Proponents of 'green mortgage loans', lent against energy efficient homes' argue they are less likely to default, and deserve a lower risk weighting than conventional mortgage lending. But it's a long...
View ArticleAxiomSL hires for Australian growth
AxiomSL, the regulatory reporting, data and risk management platform solution provider and consultancy, has hired Andrew Wood as the company’s country manager for Australia.
View ArticleCVC shops for Żabka Polska at Mid Europa
CVC has agreed to buy Polish retailer Żabka Polska from Mid Europa Partners, in what the latter says is the largest private equity exit in Poland to date.
View ArticleRenoNorden raises Nkr350m after losses in 2016
RenoNorden, the Norwegian waste management company, has finished its Nkr350m (€39m) rights issue to prevent it breaking its debt covenants after losses in 2016.
View ArticleFrench issuers must fund while they can
In spite of the spread between OATs and Bunds reaching a four year high, two French public sector issuers chose to come to market this week, hoping the market would be stable. It's no longer enough for...
View ArticleDeutsche Wohnen launches €1.3bn share and CB sale
Deutsche Wohnen, the German housing company, has launched this evening a parallel issue of €500m of new shares and an €800m convertible bond, breaking a quiet spell in Europe’s equity-linked market.
View ArticleKabbage preps small business loan deal
Online small business lender Kabbage is marketing a $500m securitization of loans to small and medium sized businesses which will be used to refinance an existing deal from 2014.
View ArticleCLO market tests longer reinvestment periods with mixed reception
As CLO managers explore ways to boost returns on new deals, longer reinvestment periods could be introduced to appease equity buyers, though debt investors may not quietly accept the trend.
View ArticleCommerzbank adds to S$ bank capital momentum
The Singapore dollar bank capital market is set for a busy week with Commerzbank announcing a Basel III tier two bond on Wednesday morning. Its offering closely follows UOB’s successful tier two outing...
View ArticleGreen credentials aid CDC’s debut
Caisse des Dépôts et Consignations (CDC) picked a tricky week for its first euro syndication in many years but, thanks to the deal’s green aspect, the trade went off without a hitch.
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