Investec adds to run of loans run with $635m deal, Standard coming
South Africa's Investec Bank signed a $635m loan on Friday. The loan is its seventh since the beginning of last year, as it raises funds ahead of potential ratings downgrades.
View ArticleBritish Columbia: harvesting the benefits of diversification
The recent performance of the province of British Columbia’s economy provides a compelling lesson in the long-term benefits of diversification. At a time when the Canadian economy has been negatively...
View ArticleFunding scorecard: French agencies
Read on to see how selected French agencies are progressing through their 2015 funding programmes.
View ArticleDelta Lloyd sails through end of €650m rights issue, small rump is sold
Despite the sturm und drang that surrounded Delta Lloyd’s rights issue, with vocal opposition from Highfields Capital Management and other top shareholders, the Dutch insurance company’s deal was...
View ArticleInvestors flooding back to agency MBS
RMBS investors are flooding back to the agency space, as renewed volatility in global markets drives a flight to quality.
View ArticleInvestors embrace long dated corporate bonds
Investors have been loading up on higher yielding long term corporate bonds, in spite of the asset class's average credit rating having declined in recent years.
View ArticleGas Natural joins Spanish bond flurry in April
Spanish energy company Gas Natural came to the bond market on Tuesday to issue its first public bond for a year. It is the third Spanish firm to issue this month, after none had in the first quarter.
View ArticleNN Bank privately places €500m RMBS
An improvement in market conditions since Nationale-Nederlanden Bank (NN Bank) was last in the RMBS market didn’t help initial spreads on its privately placed €500m deal come any tighter.
View ArticleCSAM CLO's seniors sell wide of Carlyle's
The senior triple-A rated class ‘A’ tranche of Credit Suisse Asset Management’s (CSAM) Cadogan Square CLO VII printed wider than a recently issued CLO from Carlyle, even though CSAM is considered the...
View ArticleNiel-Pigasse-Capton acquisition vehicle launches IPO with warrants
The bookbuild began on Tuesday for the Paris IPO of Mediawan, a special purpose acquisition company set up by three big hitters of French business to buy media and entertainment businesses.
View ArticleForterra opens bookbuild at modest discount to Ibstock
Forterra, the UK maker of bricks and concrete blocks owned by Lone Star, began the bookbuild for its London IPO on Tuesday (April 12), hoping to raise up to £220m.
View ArticleCzech-Slovak energy pipes group with €10bn of assets to float
A year can go by without an IPO in Prague, but this week has brought two. The day after GE Money Bank set out to float, Energetický a průmyslový holding (EPH), the Czech coal, gas and power company,...
View ArticlePackaging group Taghleef seeks €280m refi loan
Taghleef Industries, the Dubai-based food packaging film maker owned by Al Ghurair Group, is marketing a €280m seven year loan.
View ArticleFirst post-Easter IPO brings strong result for VAT Vakuumventile
The IPO of VAT Vakuumventile, the first Swiss listing for a year, is all over bar the allocations. The vacuum valve maker’s IPO — the first of the post-Easter crop — was “very oversubscribed”, a banker...
View ArticleFannie Mae prices third CRT deal
Fannie Mae on Tuesday priced CAS 2016-C03, its third credit risk transfer (CRT) deal of the year, with final pricing coming in just one day after the deal was announced.
View ArticleContext is key for widening MPL ABS spreads - LendIt
In a panel on secondary trading of marketplace loan ABS, speakers at LendIt USA in San Francisco instructed attendees to consider market context in evaluating the performance of the bonds and their...
View ArticleEIF takes on €2bn of future SME exposures from Commerzbank
The €14bn European Union-backed fund designed to support Europe’s small and medium sized enterprises has taken a €2bn chunk of German SME and mid-cap exposures off of Commerzbank’s future balance sheet...
View ArticleGSO follows CSAM into euro CLOs at wider levels
Blackstone’s GSO Debt Funds Management is out with its latest European CLO, with the lead arranger putting guidance on the senior notes at the same level as that of CSAM’s latest deal, 5bp wider than...
View ArticleEuro slowdown sensed as trio prints
A trio of public sector borrowers comfortably printed at the long end of the euro curve on Wednesday, but the deals suggested a slowdown in demand after a bumper April for the currency.
View ArticleDespite lack of guidance, Kroll urges TRID compliance
Residential mortgage originators should look to comply as best they can with the recently implemented TILA/RESPA Integrated Disclosure (TRID) rule, despite a lack of clear guidance from the Consumer...
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