CMC Markets completes £218m IPO, trades down slightly
CMC Markets, the financial spread betting firm, priced its £218m initial public offering on Friday morning, before falling 2.5% in early trading. By 1pm it was down 0.6%.
View ArticleSecondary pricing update: featuring EFSF's dual tranche tap
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 ArticleECB plans to publish leveraged loan limits
The European Central Bank will publish its leveraged lending guidelines in the next three to six months, firming up the informal guidance it sends to banks directly.
View ArticleWFS lands €240m for CAS acquisition including first CCC of the year
Worldwide Flight Services, the French cargo and luggage handling company, on Friday sold a €100m tap of its 2021 bond and €140m of triple C rated notes to support its purchase of US peer Consolidated...
View ArticleOnorato ships €300 debut bond at tight end
Italian ferry operator Onorato Armatori on Friday sold €300m of secured notes as investors backed its plans for a new financial structure.
View ArticleHSBC latest bank to settle with DOJ
HSBC has become the latest financial institution to reach an accord with the US Department of Justice (DOJ) over its role in the 2008 financial crisis.
View ArticleTalk of negative rates saps CLO confidence
A struggling global economy and a sluggish US recovery has raised the spectre of negative US interest rates, giving CLO investors another item to add to a growing list of concerns in 2016.
View ArticleWidening periphery spreads may deter issuers
The widening spreads between core and periphery eurozone government bonds may lead some issuers to hold back from bringing deals, say bankers.
View ArticleAscential narrows range again before IPO book close
Ascential, the information and events business formerly known as Top Right Group and Emap, narrowed the price range for its IPO before closing the book on Monday.
View ArticleBMW defies vicious intraday volatility to raise €1.25bn
After hiding in the shadows of private placement markets in January, BMW rose above the parapet with a dual tranche public bond on Monday, only to be hit by another sharp global sell-off. Yet the deal...
View ArticleScandi Tobacco IPO a 'safe haven' from market turmoil
Cigar and pipe tobacco maker Scandinavian Tobacco has narrowed the price range for its IPO, and is oversubscribed throughout the range. According to a banker on the deal, investors are flocking to a...
View ArticleMarkit touts first tradeable EM interest rate swap index
Markit is preparing to launch what it says will be the first tradeable emerging markets interest rate swap index.
View ArticleVote now: GlobalCapital US Securitization Awards
GlobalCapital is calling for nominations for its US Securitization Awards, to be announced at a gala dinner in New York in May.
View ArticleDerivatives markets price greater Brexit risk
Britain’s referendum on European Union membership is not expected to be held until June or September and many bank analysts expect the 'Brexit' campaign to fail, but the pricing of financial assets...
View Article'Double or quits' for traders as credit market pain ratchets up
Tumultuous trading on Monday took credit spreads to some of their widest since 2013, in what was variously described as ‘great entry levels’ for new trades or a ratcheting up of pain for those already...
View ArticleSignals turn green for transportation ABS
The normally quiet transportation ABS space is on track for an active February, with two deals hitting the market and deal watchers saying they are bullish on the performance of transportation bonds...
View ArticleCorporate bonds retreat as investors lie in wait
After the chaotic conditions of Monday, European investment grade corporate bond issuance took a step back from the turbulence emanating from other markets.
View ArticleASML adds to pipeline after three year absence
ASML Holding, the Dutch manufacturer of lithography machines for computer chip production, has hired four banks to arrange a roadshow for its first bond in three years.
View ArticleObama looks to double SEC & CFTC budgets, imposes more bank fees
US president Barack Obama is asking Congress to double funding over the next five years for Wall Street watchdogs through appropriations and user fees, as he seeks to impose new liability-linked fees...
View ArticleRapid US home price growth stokes bubble fears
Home prices in markets across the US are growing at a rate that that is outpacing underlying market fundamentals, according to Fitch Ratings.
View Article