Funding scorecard: European sovereigns
Find out how far European sovereigns have progressed with their funding plans as we come out of the summer season.
View ArticleSecondary pricing update: featuring EFSF's €2bn Sep 2040
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 ArticleHY starts September in style with Cortefiel debut
A €600m two tranche bond issue to finance the Spanish retailer Cortefiel’s LBO will be the euro high yield market’s starting shot for the second half of the year.
View ArticleFairfax Africa ups its Atlas Mara stake to 42.4%
Fairfax Africa has taken its stake in Atlas Mara, the African investment vehicle co-founded by former Barclays CEO Bob Diamond, up to 42.4% after completing a strategic financing.
View ArticleUnited biscuits signs £725m loan with 21 banks
United Biscuits, the maker of McVitie’s biscuits and Jacob's Crackers, signed a £725m syndicated loan on Thursday with 21 banks.
View ArticleTanzania signs $500m syndicated loan
Tanzania has signed a $500m loan with Credit Suisse and a syndicate of other banks, according to an official close to the deal.
View ArticleSSAs push out curve in euros
A pair of public sector borrowers are set to bring their longest dated euro benchmarks in some time on Tuesday, as underlying rates for both issuers fell slightly on Monday.
View ArticleGroupama offers ‘friendly’ call to T1 bondholders
Groupama has said that it will call its 6.298% perpetual tier one bond at its first call date in October, having offered holders the chance to exchange the notes for a new tier two earlier this year.
View ArticleEEX and GDT express interest in joint dairy auction
European Energy Exchange (EEX) and Global Dairy Trade have jointly expressed interest in a potential auction mechanism for European dairy products.
View ArticleABS markets keep eyes on ECB
Participants in Europe’s asset backed securities markets will be watching the European Central Bank's meeting this week for some indication on its plans to taper quantitative easing, but most expect...
View ArticlePBoC bans ICOs as regulators get tough on crypto
The formerly booming cryptocurrency market is a sea of red on Monday, thanks to the news that China is making Initial Coin Offerings (ICOs) illegal. Other regulators are also stepping up their efforts...
View ArticleArcelorMittal prices debut Schuldschein at IG levels
Luxembourg-based multinational steel manufacturing company ArcelorMittal is offering its first Schuldschein facility for €150m at below 200bp, in line with the spreads paid by better rated companies.
View ArticleUrals Crude derivatives win new market maker
Lukoil RNP, a part of the Lukoil Group, has become a market maker in the Urals Crude futures market traded on the St. Petersburg International Mercantile Exchange (SPIMEX).
View ArticleEIB expected in dollars but North Korean risks loom
The European Investment Bank is widely expected to hit screens with a five year dollar bond this week but, with the US market sidelined for the Labor Day holiday, the SSA market will have to wait for...
View ArticleKronos feeds HY with first Reverse Yankee of autumn
The European high yield bond market returned from its summer break to €2.8bn of new bond offerings this week, including a sub-benchmark sized note from Delaware’s Kronos International on Monday.
View ArticleSteinhoff Africa Retail launches $1.1bn Johannesburg IPO
Steinhoff International, the South African conglomerate, has opened the books on the IPO of Steinhoff Africa Retail (Star), a company formed from its African retail assets, which could value the...
View ArticleEMEA blocks market starts up again with a flurry of trades
After the US public holiday on Monday restricted trading, the blocks market in EMEA reopened on Tuesday night with a rush of large deals from across the region.
View ArticleWhy preferred senior bonds could start earning their name
Senior preferred debt has never been cheaper for banks — and it has regulatory benefits as well. While funding teams rush to meet bail-in targets, there's a value in keeping the old asset class alive.
View ArticleNorth Korea boosts derivative volumes
Derivative volumes for August rose above last year's as North Korea's aggressive rocket and nuclear warhead actions increased geopolitical concerns and markets' volatility.
View ArticleInvestors divided as two more join HY spree
Two more borrowers added on Tuesday to the almost €3bn of new high yield bonds already being marketed in Europe this week. But just as the market is set to surpass last year's volumes, investors have...
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