Scheming Europeans
President of the European Commission Jean-Claude Juncker’s address on the state of the EU proposed more Europe as a remedy for most of what ails the bloc. A European finance minister, European Monetary...
View ArticleEuropean auto ABS market revs post summer engines
The European auto ABS market is speeding into autumn with two new deals hitting the pipeline in the same week that Santander Consumer priced its latest offering.
View ArticleInvestors respond well to Ahold’s return to bond market after over a decade away
Ahold Delhaize, the Dutch supermarket company, was the only IG corporate issuer to price a deal on Tuesday. But unlike the five triple-B rated issuers on Monday, the food retailer paid a single digit...
View ArticleAnglo celebrates return to IG with four tenders and a new eight year
UK-based global mining company Anglo American launched a €1.2bn tender offer and a €600m new issue on Wednesday after recently being returned to investment grade status following 18 months with a junk...
View ArticleAsahi sees strong European taste for beer
On Monday, Japanese brewer Asahi Group brought the fourth European bond issue by a beer producer in Europe in 2017, having roadshowed its debut euro bond the previous week.
View ArticleSuez pushes maturity marker out to 15 years
Since the market returned from its summer break, no corporate bond issuer had printed a new deal with a tenor longer than 12 years before Wednesday. However, on Wednesday French water and waste company...
View ArticleKNOC finds opportune timing for Canada arm's bond
Korea National Oil Corp’s (KNOC) Canadian arm grabbed a $285m bond on Thursday, securing its deal before North Korea fired its second ballistic missile over Japan on Friday morning.
View ArticleCorporate bond week ahead: FOMC holds no fears
Eleven benchmark corporate bond deals were priced in Europe this week, but even more are in the pipeline. Syndicate managers expect conditions to remain favourable for issuance in both euros and sterling.
View ArticleMUFG hires from BNPP for insurance DCM
MUFG (Mitsubishi UFJ Financial Group) has hired a senior banker from BNP Paribas to front its EMEA insurance team.
View ArticleBoston Common-ShareAction letter to bank CEOs
Here is the full text of the letter sent by 100 investors to 62 bank CEOs in September 2017, calling on them to manage and disclose climate risk.
View ArticleUniCredit hires three for German FIG team
UniCredit has made three new appointments within its financial institutions group for Germany and Northern Europe.
View ArticleLand Securities pockets £1bn, buys back old bonds
After Monday’s dual tranche offering from Unilever, the sterling corporate bond market paused ahead of Thursday’s Bank of England Monetary Policy Committee.
View ArticleStada seeks €825m of high yield for landmark LBO
Stada Arzneimittel’s €5.3bn financing is the biggest for a sponsor-led corporate buyout in Europe since 2013. The bond roadshow opens on Monday, after €2bn of leveraged loans last week were marketed...
View ArticleSantander adds one for Scandi FIG coverage
Santander has hired a banker from HSBC to work in its debt capital markets team for financial institutions.
View ArticlePirelli’s IPO could be the largest in EMEA this year
Pirelli, the Italian tyre maker, has revealed the price range for its IPO in Milan, which could surpass the €3bn flotation of Allied Irish Banks in June as the biggest IPO in Europe this year - if the...
View ArticleCME exits CDS clearing
CME Group will close its credit default swap clearing business by the middle of 2018 as it focuses its clearing operation on interest rate swaps and foreign exchange products.
View ArticleTelia brings second $500m Turkcell selldown this year
On Monday evening, Telia, the Nordic telecoms group, launched another large block trade of shares in Turkcell, the leading mobile phone operator in Turkey.
View ArticleGosforth gathers strong dollar demand despite Miami meet
Virgin Money's new UK RMBS, Gosforth Funding 2017-1, saw strong demand for both sterling and dollars in its new deal, despite much of the US market heading to Miami for IMN's ABS East conference.
View ArticleSSA secondary pricing update: featuring OTFT's dollar debut
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 ArticleLatham hires veteran structured finance lawyer
Latham & Watkins said it had hired Simeon Rudin, a former partner at Freshfields and former head of the firm's structured and asset finance team in London.
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