$1.1bn of cat bonds in path of Texas hurricane
As Hurricane Harvey barrels towards Texas, investors are at risk of losing up to $1.1bn through two Texas catastrophe bonds issued in 2015 and 2017.
View ArticleUK names next syndication line-up
The UK Debt Management Office has selected the banks that will run its next syndication.
View ArticleSocGen bankers indicted for Libor manipulation
Two Société Générale bankers have been indicted for allegedly manipulating Libor and causing $170m worth of damage to global financial markets, the American Department of Justice (DOJ) announced on...
View ArticleLebara sounds bond debut in mute high yield market
Low-cost telecoms firm Lebara broke a two week silence in the euro high yield market with its first bond.
View ArticleFed seeks opinions on reference rate proposals
The US Federal Reserve Board is seeking public comment on its ambition to produce three new reference rates based on overnight repurchase agreement transactions secured by Treasuries.
View ArticleLast minute showdown on Noble CDS trigger
Banks scrambled this week to trigger credit default swaps on the back of Noble Group’s loan restructuring in June, after the Asian International Swaps and Derivatives Association determinations...
View ArticleKfW back in Nokkie as international interest grows
KfW returned to the Norwegian krone market on Tuesday, increasing a two year Nokkie line by Nkr500m ($64.7m). International buyers are returning to the currency, largely as a consequence of stabilising...
View ArticleICE to take over LBMA Silver Price in September
Intercontinental Exchange’s (ICE) benchmark subsidiary is planning to administer the London Bullion Market Association (LBMA) Silver Price benchmark from September 25, the exchange operator announced...
View ArticleKBN offers dollar haven as Korea worries rise
Kommunalbanken will bring a dollar benchmark in a defensive tenor on Wednesday, which a banker on the deal said is the perfect product for investors amid rising geopolitical tensions. The trade also...
View ArticleFinland and KommuneKredit line up as EFSF goes long
The European Financial Stability Facility (EFSF) picked up €2bn with a 23 year bond on Tuesday, paving the way for other top-flight borrowers to bring their own euro deals.
View ArticleDraghi right to defend free trade, but should concentrate on the day job
No one expected anything earth shattering to emerge during European Central Bank president Mario Draghi’s speech at Jackson Hole last week, but the complete silence on tapering the bank’s various asset...
View ArticleBalder’s hybrid extends Nordic August in euro HY
Fastighets AB Balder, the Swedish property manager, began roadshowing for a €350m hybrid bond in euros and Swedish kronor on Tuesday. It may become the second Nordic borrower to issue in an otherwise...
View ArticleEurex to introduce 'Market-on-Close' futures
Eurex Exchange, the derivatives market owned by Deutsche Börse Group, is to start trading EuroStoxx 50 'Market-on-close' (MOC) futures on October 30.
View ArticleConsumer lenders need to embrace alternative data
Ford Credit’s move to incorporate alternative data into its underwriting process will open up opportunities for underserved borrowers, and more consumer lenders should follow suit if they want to reach...
View ArticleNon-bank cash eases CMBS refi wave
An influx of cash from alternative lenders and foreign capital has helped the CMBS market negotiate a wave of maturing pre-crisis CMBS debt, with even weaker loans showing stronger performance in July...
View ArticleOneMain prices subprime consumer ABS
OneMain Financial sold its latest subprime consumer loan ABS this week, boosting the transaction size to $947.37m before pricing the bonds on Tuesday.
View ArticleKBN breaks recent dollar trend with tightened deal
Kommunalbanken made what bankers away from the trade described as an “excellent” choice of tenor with a dollar benchmark on Wednesday as it tightened pricing from guidance — something that not every...
View ArticleEIB readies in sterling as KfW snatches big size
Two of Europe’s biggest issuers are relaunching the sterling market in the wake of the summer lull this week — including one that more than doubled its initial target.
View ArticleSSE, Carlsberg, GM shake off corp bonds' slumber
Europe's corporate bond market was firing on all cylinders on Wednesday. Three issuers launched deals, while others continue to fill up next week’s issuance pipeline.
View ArticleCorporate bond mandates stack up for busy September
A slew of companies announced roadshows for European bond issues on Wednesday, setting next week up to be one of the busiest for months.
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