FMS-W readies summer hat-trick
FMS Wertmanagement is set to dip into the market for the third time this summer, as it seeks to meet an increased funding target for the year.
View ArticleMuHyp Pfandbrief to break summer slumber
Muenchener Hypothekenbank (MuHyp) managed to pull its Munich-based lead managers away from their beer gardens and swimming pools on Tuesday to announce a Pfandbrief mandate, though somewhat late in the...
View ArticleEU MMF reform 'to lower SSA funding costs'
The reform of European money market funds (MMFs) should cause short end public sector yields to fall as funds scramble to build up liquidity, according to a research note from Bank of America Merrill...
View ArticleCVC’s AR Packaging ups leverage at no extra cost
AR Packaging, the Swedish maker of packaging for food, increased its LBO loans with a dividend recap deal on Tuesday. The move follows a trend of loan borrowers taking on more leverage ahead of new...
View ArticleUK risks severe harm to City in Brexit services silence
Despite making up 80% of the UK's GDP, services are being left out of the loop in the confusion surrounding the country’s potential exit from the European Union and the recent focus on the Customs Union.
View ArticleAbu Dhabi boycott scenario leaves no one crying
The spat between Qatar and its GCC neighbours has reared its ugly head in the capital markets, with the possibility Abu Dhabi informally boycotting Qatari-owned banks on the table. But neither side is...
View ArticleChilean insurance player adds collateral tool for margin fix
Chilean life insurance company Confuturo this week announced its adoption of Bloomberg’s multi-asset risk system (MARS) collateral management tools, in an effort to manage the demands of new global...
View ArticleTrinseo bags savings with new financial structure
US plastics manufacturer Trinseo priced its new dollar refinancing bond deal with coupons more than 100bp tighter than the old notes. It is also marketing new term loans.
View ArticleOtkritie hires industry vet to kick-start capital markets offering
Otkritie, the Russian privately-owned bank, has hired a capital markets veteran as it looks to build a capital markets franchise.
View ArticleEtihad deals drop 12 cash points as Air Berlin files for insolvency
Air Berlin’s move to file for insolvency has caused a 12 cash point sell off in two structured bonds issued by Etihad called EA Partners I and II, but backed by airline partners including both Alitalia...
View ArticlePfandbrief issuers scramble to supply long end
Muenchener Hypothekenbank issued a tightly priced nine year Pfandbrief on Wednesday, just as Commerzbank mandated leads for a 10 year. The deals are likely to be followed by others from core Europe and...
View ArticleAkbank scores another $1.2bn with new Asian lenders
Akbank, one of Turkey’s largest banks, has secured another $1.2bn facility for this year with the same number of banks as its facility in March but with new Asian lenders on board and tighter pricing.
View ArticleIrish reforms provide road map for Italian NPL problems
Italy and its mountain of bad debt are firmly in focus for the European banking system, with observers hoping the country can look to other European nations, particularly, Ireland, for a solution to...
View ArticleCB investors on the hook after Air Berlin files for bankruptcy
Air Berlin, the second biggest airline in Germany, is at risk of defaulting on more than €600m equivalent of bonds, including €130m of convertible bonds, after the carrier filed for insolvency.
View ArticleFMS-W launches third summer trade, joined by German state
FMS Wertmanagement has printed its third deal of the summer, scooping up €1bn of short dated euro paper with an opportunistic trade.
View ArticleSaudi Electricity Co taps loan market for $1.75bn
Saudi Electricity Co (SEC), the largest utility company in the Middle East and North Africa, has signed its biggest ever loan of $1.75bn from eight international banks.
View ArticleQuintenz sworn in as CFTC commissioner
Former investment firm head Brian Quintenz was sworn in as a commissioner at the Commodity Futures Trading Commission (CFTC) on Tuesday, providing a much needed boost to the organisation's senior staff.
View ArticleNWB tap happy in dollars
Nederlandse Waterschapsbank on Thursday became the latest issuer to tap into a hot summer market for dollars, increasing a tap from its initial size while printing flat to its curve.
View ArticleWidening loan spreads drive hope for new euro CLOs
Fresh supply of European leveraged loans has led to softening prices, creating opportunities for CLO managers to form new deals and bringing new investors, including Japanese buyers, into the market.
View ArticleECB minutes strike confident note on inflation
The minutes of the European Central Bank's (ECB) July meeting revealed a new and optimistic tone on inflation, but caution on relaxing its accommodative measures.
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