US banks feel pain of dealflow decline
The first quarter results of the major US firms show in detail just how painful the early volatility in the year has been, with double digit percentage point declines in multiple business lines.
View ArticleBNCR goes green as Lat Am picks up post-Argentina
Banco Nacional de Costa Rica (BNCR) sold the first ever high yield green bond from Latin America on Wednesday, jumping on the momentum in a buoyant market provided by Argentina’s jumbo bond comeback.
View ArticleFroth as far as the eye can see — and it’ll continue
Mario Draghi, European Central Bank president, is known for playing with his bazooka. Right now, it feels more like his Badedas. The capital markets are swimming in froth, as surely as if Draghi had...
View ArticleTax avoiders, keep ‘em coming
You might admire Obama’s clampdown on tax inversion, but if you are a loan banker starved of dealflow, you won’t thank him for it.
View ArticleBeefy bond raises stakes for next Argentina borrowers
Argentina fever has gripped financial markets after the sovereign’s record breaking return to international bond markets this week, with sub-sovereigns likely to be the first to take advantage of the...
View ArticleColombian Pacific agrees catalyst for lower debt
Some 49% of troubled Canadian-Colombian oil company Pacific Exploration & Production’s creditors, comprising bank lenders and senior noteholders, took just two days to agree to a restructuring...
View ArticleShort end surges to close out busy week in FIG
Nationwide Building Society and Goldman Sachs took euro FIG issuance to more than €9bn for the week on Friday.
View ArticleSecondary pricing update: featuring France's 20y and 50y dual tranche
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 ArticleHammerson wins four new relationship banks in loan refi
Hammerson, the UK property company, has signed a new £420m revolving credit facility with eight banks, including four new lenders.
View ArticleNumis’s bold Saga trade wins cheers (and a hiss) as the stock rises
Shares in Saga, the UK insurance and holidays group for the over-50s, rose sharply today after the biggest ever block trade in the stock — and the last for its private equity owners — which Numis...
View ArticleGoldman Sachs to arrange Dynamic Credit’s first Dutch RMBS deal
Asset manager Dynamic Credit is close to launching its first Dutch RMBS deal through its Elan mortgage platform, with Goldman Sachs the sole arranger on the deal.
View ArticleNorske Skog has triggered credit event, rules ISDA
The International Swaps and Derivatives Association's EMEA Determinations Committee has ruled that Norske Skog has triggered a restructuring credit event.
View ArticleFunding scorecard: European sovereigns
Find out how far European sovereigns are progressing in their funding targets with nearly a third of 2016 gone.
View ArticleTwo Ineos-owned firms come to levfin market
PQ Corp, the US inorganic chemicals producer, and Inovyn, the UK-headquartered chorvinyls producer — both partly owned by Ineos, the petrochemicals company — are marketing over $2bn of refinancing debt...
View ArticleBright future ahead for solar, PACE ABS
Attendees at the fourth annual IMN Sunshine Backed Bonds Conference in New York were confident that 2016 would be a landmark year for Property Assessed Clean Energy (PACE) and solar ABS as investors...
View ArticlePACE industry on track to hit $2bn in 2016 – panel
Panelists speaking on a Property Assessed Clean Energy (PACE) panel at the IMN Sunshine Backed Bonds conference in New York this week said that the market for PACE loans is on track to hit $2bn in...
View ArticleESM set for 15 year debut
The European Stability Mechanism is set to fill a gap in its maturity curve on Tuesday with its first ever 15 year euro benchmark, while other issuers are expected to follow the supranational with...
View ArticleCLO market cheers Valeant CEO appointment
CLO investors on Monday said that they were pleased with the decision by Valeant Pharmaceuticals to appoint Joseph Papa as CEO, adding to the good news in recent weeks as to the direction of the...
View ArticleArdagh’s $2.85bn bond to make way for ‘real’ high yield action
Packaging maker Ardagh Group on Monday said it would unleash a $2.85bn bond offering in euros and dollars, the second largest proposed European high yield deal of the year, to fund asset purchases from...
View ArticleNumis leaps into top 10 equity ranking after Saga trade
Numis Securities’ bold block trade in Saga shares on Thursday night has catapulted it into the top 10 in Dealogic’s equity capital markets league table for 2016.
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