Canadian cross-border auto ABS takes spotlight
This week saw a flurry of Canadian cross-border auto ABS activity, with Scotiabank pricing a dollar-denominated auto deal on Wednesday and Bank of Montreal (BMO) filing for a debut offering.
View ArticleWhat could possibly go wrong?
This week’s slate of covered bonds saw record after record broken — a mania that was evident across the whole FIG sector. With European rates set to remain at their lows throughout next year and the...
View ArticlePetrobras builds big bonds with attractive exchange
Petrobras’s latest new issues gradually recovered ground in secondary markets this week as the overhang effect from a huge exchange offer began to wear off.
View ArticleLat Am pipe promises more rare names
One rare and one debut issuer from Latin America are meeting bond investors as bankers say that a quieter couple of weeks of activity is no indication of a slow end to the year.
View ArticleCorporate bond week ahead: Small but frequent deals to keep syndicates busy
September has not been as busy by volume as usual in the corporate bond market, but that is more because of the size of deals, rather than the number. Syndicate managers expect this trend to continue...
View ArticleBarclays guns for sterling sweet spot
Barclays was looking to add to the £4.8bn equivalent of senior funding it has done this year with a sterling deal in a ‘hot’ tenor on Friday. The deal arrived as Mark Carney, the governor of the Bank...
View ArticleFunding scorecard: Nordic agencies
This week's funding scorecard looks at the progress Nordic agencies have made in their funding through the first half of 2017.
View ArticleUK challenger Charter Court rises 5% after £220m IPO
Shares in Charter Court Financial Services, the UK challenger bank, rose 5% on their debut on Friday, after the company priced its IPO at 230p a share, the middle of the initial range.
View ArticleSSA secondary pricing update: featuring KfW's super tight green bond
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 ArticlePiraeus Bank to issue €500m covered bond
Piraeus Bank will privately place a €500m five year covered bond to three supranational agencies in order to support €700m of new lending to small and medium sized companies across Greece.
View ArticleSP Mortgage Bank plans covered bond roadshow
Finnish covered bond issuer SP Mortgage Bank has appointed leads for a roadshow that is scheduled to finish in mid-October. As only two Finnish covered bonds have been issued this year, a warm...
View ArticleVakifbank shows banks' preference for euros
Turkey’s Vakifbank has signed its second refinancing facility of the year for $891m equivalent, with a bigger euro tranche than its previous facility, showing banks' preference for financing in euros...
View ArticleBerlin Hyp goes long for second senior green
Berlin Hyp has mandated for its second unsecured green bond, as it works to make loans financing green buildings account for 20% of its lending by 2020.
View ArticleBRRD rapporteur wants to cap MREL at TLAC level
In a draft review of bank recovery and resolution directive (BRRD) this week, Swedish MEP Gunnar Hökmark pushed to ‘ensure that the level of subordinated debt that resolution authorities impose on...
View ArticleValeant looks to buy back 2020 debt
US drug firm Valeant Pharmaceuticals International has started a cash tender offer for up to $1bn of three senior notes due 2020, with investors saying on Monday that the tender could prove so popular...
View ArticleHSBC to bring in new head of high yield
HSBC has poached a senior banker from Bank of America Merrill Lynch to be its head of high yield syndicate, a source familiar with the matter has confirmed to GlobalCapital.
View ArticlePuma Energy expected at 5.5% area
High yield and emerging market crossover issuer Puma Energy is expected to price a $300m seven year non-call three year bond on Tuesday from initial price thoughts of 5.5% area, and investors say that...
View ArticleCLO investors skew to new issue despite loan concerns
US CLO debt investors are skewing their investment portfolios in favour of new issue paper away from resets, despite the availability of collateral remaining a key concern, according to a JP Morgan...
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