Iron ore swings were driven by derivatives, says analyst
Far from a signal of returning strength in commodities this week’s iron ore surge was due to freak activity in derivatives markets, an analyst has claimed, since daily futures volumes were equal to the...
View ArticleBerkshire Hathaway dashes for euros after tying up monster dollar bond
Berkshire Hathaway drove a pre-ECB meeting rush of issuance on Wednesday as the conglomerate wasted no time following its giant seven tranche bond issued in the US market on Tuesday.
View ArticlePemex jumps on oil rally to tap euro buyers
Mexican duo Pemex and América Móvil headed to Europe to raise financing this week, becoming the first corporates of the year to join the trend of Latin American borrowers selling euro denominated debt.
View ArticleBrazil caps Lat Am comeback as fears hit of EM overheating
So remarkable has been the turnaround in sentiment in Latin American credit markets that bankers and investors could scarcely believe it was real, with as many borrowers issuing in four days this week...
View ArticleLat Am HY back with a bang as BA, Cemex issue
Latin America high yield bonds demonstrated their similarities with London buses on Wednesday as the Province of Buenos Aires and a Mexican cement company issued the first high yield bonds from Latin...
View ArticleGerman banking group warns looser monetary policy 'will destabilise banks'
Chief economists for the Savings Bank Finance Group (SBFG) in Germany warned the European Central Bank against using monetary policy to help struggling banks this week, adding that such a course...
View ArticleBarclays buys €1.76bn in UK tender bender
A number of UK banks are expected to tender for operating company debt in the coming months, following in the footsteps of Barclays, which announced the results of its latest buyback on Wednesday.
View ArticleGazprom roadshows its first post-sanctions Swiss franc bond
Russian gas company Gazprom is roadshowing a possible Swiss franc bond, which would be its first in the currency since the EU and US laid down sanctions on several Russian state-owned companies in 2014.
View ArticleFunding scorecard: supranationals
We examine the progress a number of supranationals have made in reaching their funding targets for the year in this week's funding scorecard.
View ArticleFresenius US smashes record with largest dollar Schuldschein
In another first for the Schuldschein market, Fresenius US Finance II has completed the largest dollar deal, raising $400m, according to bankers.
View ArticleArcelorMittal readies $3bn capital raise, names five more banks
ArcelorMittal’s share price shot up on Friday morning, after the Amsterdam-listed miner and steel maker set the terms for its $3bn rights issue.
View ArticleSecondary pricing update: including Belgium's €3.5bn 30 year
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 ArticleGerman funding official switches to banking
A funding official at a leading public sector borrower will move to a bank’s syndicate team in the summer, GlobalCapital understands.
View ArticleCorporate bond market turns it up to 11
Corporate bond markets snapped into bullish mode on Friday as the effect of Mario Draghi’s renewed monetary stimulus kicked spread tightening into full throttle.
View Article