Three more tranches of fashionable real estate for sterling bond buyers
Sterling corporate bond investors had three tranches of property company debt to evaluate on Wednesday, as Segro issued a £750m 12 year and 20 year deal and Notting Hill Housing Trust a £400m 31 year.
View ArticleEurazeo cuts 4.6% slice off its Elis stake
Eurazeo, the private equity group, is selling a 4.56% stake in Elis Services, the French bed linen and laundry company, through a block trade of about €220m.
View ArticleFiat goes for short drive as it reopens euro market with French pair
After three days without a deal, the euro corporate bond market reopened with nearly €2bn of new issuance from three different issuers. The auto finance lender, FCA Bank, issued a three year deal,...
View ArticleChina’s central bank provides ‘escape valve’ for squeezed European repo mart
The People’s Bank of China has used its extensive holdings of European government bonds to act as an "escape valve" at times when the European repo market has become squeezed, such as year-end and...
View ArticleLadder Capital closes debut real estate CLO
Ladder Capital closed its first CLO backed by bridge loans on commercial real estate properties on Tuesday, the second time this year it has stepped into the capital markets with a deal from its own...
View ArticleVerizon brings third 2017 cell phone ABS
Verizon Communications is marketing its third securitization of 2017, pooling device payment plans (DPPs) on mobile phones as buzz around the budding asset class increases on the back of bullish...
View ArticleCPS heads to market with subprime auto ABS
Subprime auto lender Consumer Portfolio Services (CPS) is out with its fourth deal of the year, with market watchers eyeing value in the short duration triple-A bonds.
View ArticleBanks to bring forward bad loans as ECB brandishes provisions
Banks are trying to digest the implications of a new move by the European Central Bank, which would set a deadline by which new non-performing loans should be fully written off. This could spark a rush...
View ArticleThe mystery of IPOs is part of their appeal
“Phew, you scared us there!” sums up the reaction of Europe’s equity capital market on Thursday, when Pirelli’s monster truck of an IPO, which had sagged by 2.8% from its launch price on its first...
View ArticleTrebles for issuers, not investors as trio of Lat Am issuers fund inside curve
Three of the first four Latin American dollar deals of the week were priced inside each borrower’s respective curve as syndicate bankers covering the region struggled to remember such an extended...
View ArticleBrazil builds new benchmark as funding costs drop
Brazil sold new 10 year bonds this week as part of a liability management exercise, using a combination of a cash tender and exchange offer to buy back $3bn of short-dated bonds.
View ArticleLat Am corps cut pricing as BCI gets 10 year
Chilean lender Banco de Crédito e Inversiones (BCI) became the latest Latin American issuer to take advantage of strong market conditions as it took the plunge on its first international bond issuance...
View ArticleCFTC's Quintenz kills off maligned HFT regulation
Commissioner Brian Quintenz of the US Commodity Futures Trading Commission gave the high frequency trading industry a boost this week in a speech that confirmed the end of a regulatory bugbear for algo...
View ArticleHaitong UniTrust, Bestway eye October end for IPOs
Haitong UniTrust is preparing for a late October or early November launch of its potential $500m Hong Kong listing, according to a banker working on the transaction.
View ArticleCovered bond primary volume ‘biased to the upside’
The primary market is likely to remain as active in October as it was in September, but in light of strong conditions and the European Central Bank meeting at the end of the month, volumes are ‘biased...
View ArticlePermanent TSB mandates Irish prime RMBS
Permanent TSB has mandated three banks to sell an Irish RMBS transaction, Fastnet 13, offering classes of senior and mezzanine bonds to investors.
View ArticleFunding scorecard: French agencies
This week's scorecard looks that the funding progress of French agencies as we move into the fourth quarter.
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