LatAm’s Elvis: Argentina’s Macri gives investors something to believe in
Argentina’s record-breaking return to international capital markets will be priced much tighter than many investors would have liked. But President Mauricio Macri is exactly the kind of leader EM...
View ArticleLVMH bucks equity-neutral downer trend with successful CB tap
LVMH Moët Hennessy Louis Vuitton, the French luxury goods group, returned to the convertible bond market on Monday night to tap its $600m equity-neutral bond, issued in February, for another $150m.
View ArticleOVS and Romgaz among spicy set of block trades
Four smallish equity block trades were launched in Europe on Tuesday afternoon, after a strong day for stocks.
View ArticleNapier Park markets first railcar ABS
Napier Park Global Capital is in the market with a $259.84m debut railcar securitization.
View ArticleCRT secondary sees renewed activity
The agency credit risk transfer (CRT) market has seen an uptick in secondary trading in recent weeks, boosted by a flight to quality mortgage securities and brisk issuance from the government sponsored...
View ArticleCantor, SocGen price Ritz-Carlton CMBS
Cantor Commercial Real Estate and Société Générale priced a $160m single borrower CMBS offering backed by the Ritz-Carlton South Beach on Tuesday, pricing the triple-A rated senior tranche at 150bp...
View ArticleCiti head of financing EMEA set to leave
David Basra, Citi’s head of EMEA financing, is intending to leave the bank, GlobalCapital understands.
View ArticleAsset shortage could restrain strong CLO primary run
The second quarter has seen CLO arrangers pushing through a burst of new issuance on the back of improving sentiment in the market, but a shortage of assets might prove a limiting factor for the market.
View ArticleMoody's views Brexit as credit-negative for UK companies
Moody’s has said in a report released on Wednesday that the UK leaving the European Union would be credit-negative “for most UK-based companies”.
View ArticleOntario prints at 10s after Quebec leads the charge
The Province of Ontario on Wednesday became the second Canadian issuer to print a 10 year dollar benchmark this month, adding to a recovery in issuance at that part of the curve.
View ArticleForterra and Mediawan IPOs succeed, though no blowouts
Forterra and Mediawan have closed and completed their IPO bookbuilds this afternoon, though Forterra’s will be priced at the bottom end of the range.
View ArticleInvestors swallow Heineken’s €800m bond, cheered by Q1 profit rise
Heineken launched a 10 year bond today, almost immediately after publishing its first quarter results, and ended up increasing the deal to €800m on strong demand.
View ArticleBanca Popolare di Vicenza IPO almost sure to be priced at the bottom
UniCredit published a statement today clarifying certain aspects of its sub-underwriting agreement for the IPO of Banca Popolare di Vicenza with Fondo Atlante, the fund being set up by Italian...
View ArticleMarketplace loan ABS pipeline swells to $700m in April
Marketplace lenders Avant and OnDeck are in the market with $550m worth of ABS, bringing the total primary issuance volume to over $700m in April.
View ArticleNissan deal upsized amid high investor demand
Issuers on Monday priced the latest auto loan ABS deal from Nissan Motor Acceptance Corp., increasing the total deal size by $300m in response to strong investor demand.
View ArticleUS CLO equity buyers getting squeezed
CLO equity investors are getting squeezed in recent weeks, as managers look to retain more of their own equity in order to comply with risk retention rules and to speed up pricing.
View ArticleSaudi loan shows no hiding place in ME funding crunch
Even the big beast of the Middle East is suffering the financing pressure sweeping the region. The margin on oil-drenched Saudi Arabia’s $10bn loan, revealed this week, compared to what it might have...
View ArticleRomgaz wins widespread demand as Fondul sells out
Among the four smallish equity block trades launched in Europe on Tuesday afternoon, after a strong day for stocks, was an important trade in Romgaz, the Romanian state-controlled gas company.
View ArticleSo far, so good, for spring IPO boom in Europe
The long roster of IPOs in the market was tallied by one banker this week at “15 of a decent size and another six tiny ones”. Fortunately for the issuers, markets have been supportive and most are...
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