Investors sense danger in super-bullish credit
Fund managers have many different views on the likely path of interest rates, credit spreads and defaults — but they all agree on one thing. As one investor put it: “It’s going to be a very small door...
View ArticleA quantum leap for green bonds
A new $2bn fund to be launched by the IFC and Amundi is the most important step for green bonds in the emerging markets yet.
View ArticleSmoking hot Lat Am welcomes raft of debuts as Guatemalan flies
Guatemalan electricity distributor Energuate’s heavily oversubscribed debut bond closed two points above reoffer on the day of pricing to cap a hectic week in Latin American new issue markets.
View ArticleBNDES waits for green opportunity in busy Lat Am pipe
Brazilian development bank BNDES surprised some bond market bankers by opting not to issue its first ever green bond the day after its roadshow ended. But conditions appear ripe for the deal when it...
View ArticleQDII to return as capital controls ease, say StanChart and Z-Ben
As capital outflows subside, Chinese regulators could reopen two important channels of outbound investment this year, according to the new report from Standard Chartered and Z-Ben Advisors.
View ArticleSabadell lines up AT1 debut in ripe conditions
Spain’s Banco de Sabadell is gearing up to sell its first additional tier one (AT1) in the euro market and participants expect the result will be very well received by the product’s investor base.
View ArticleEUROPEAN CORPORATE BOND PIPELINE
GlobalCapital's latest information on forthcoming and planned corporate bond issues in the European market.
View ArticleRBS makes first quarterly profit since 2015
Shares in Royal Bank of Scotland, the UK lender, rose 5% on Friday after it reported its first quarterly profit for more than a year.
View ArticleSecondary pricing update: featuring EFSF's 2043 tap
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 ArticleSecond tier FIG lenders jump in before Yankee rush
US regional and domestic financial names took centre-stage in the dollar market following the previous week’s funding splurge by Wall Street heavyweights.
View ArticleSecondary covered bond spreads steady after sharp rally
After rallying hard over the past week covered bond spreads have begun to stabilise, especially in France where Credit Agricole’s well-performing €1.5bn 10 year helped sate appetite. Traders reported...
View ArticleLCH starts direct Norwegian krone settlement
LCH has established deposit and intraday liquidity facilities with Norges Bank, the central bank of Norway, meaning it now has central bank accounts for six currencies.
View ArticleItaly’s Pirelli hits the gas on stockmarket return
Pirelli, the Italian tyre maker owned by China National Chemical Corp (ChemChina), is pressing ahead with its plan to relist earlier than expected, due to favourable market dynamics.
View ArticleCroatian oil company INA extends $300m RCF
Croatian oil company Industrija Nafte, INA, has managed to prolong a $300m revolving credit facility by a year despite the default of the country’s largest private company, Agrokor.
View ArticleVolkerWessels launches €631m Amsterdam IPO
VolkerWessels, the Dutch construction company controlled by the Wessels family, has opened the books for its Amsterdam IPO, which could value the business at up to €2bn.
View ArticleCredit Suisse to lead debut commercial PACE ABS deal
Credit Suisse has been tapped to lead the first ever commercial Property Assessed Clean Energy (PACE) ABS transaction, a $40m to $75m offering from CleanFund Commercial Capital.
View ArticleThis week in renminbi: May 2, 2017
In this round-up of news you may have missed over the long weekend, forex transactions amount to Rmb14.18tr ($2.06tr) in March, China’s manufacturing PMI disappoints analysts, and renminbi deposits in...
View ArticleGlobal Ports opens books for £160m London IPO
Global Ports Holding, the independent cruise port operator, has set the price range for its IPO on the London Stock Exchange.
View ArticleEC tees up clearing suspension mechanism in leaked doc
The European Commission aims to introduce a mechanism that will allow it to “temporarily suspend” clearing obligations for certain OTC derivatives products or counterparties if requested to by the...
View ArticleEurope needs further action on no-action
European regulators are finally on the road to creating suspension mechanisms similar to those used in the US, an evolution that should not stop at clearing.
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