Secondary pricing update: featuring KfW and World Bank's $5bn five year bonds
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 ArticleP&M Notebook: The defenestration of Milan
UniCredit needs a new boss and a new strategy. But the industry as a whole could do with some stability.
View ArticlePhilips and Maisons du Monde skip on debuts, healing memory of Telepizza
Philips Lighting and Maisons du Monde’s IPOs have run precisely along the same timelines, with many similarities in how the sales went, and today their debut trading performances also ran in parallel,...
View ArticleSSA head quits Deutsche Bank
Deutsche Bank’s co-head of supranationals, sovereigns and agencies origination and syndication has resigned after 15 years at the bank, GlobalCapital understands.
View ArticleRisk warnings for traders as volatility hits year-long low
A key measure of US market volatility has hit its lowest point for a year, suggesting traders are counting on the recent calm to continue, with no shocks or surprises.
View ArticleNorton Rose hires derivs partner in Singapore
Law firm Norton Rose Fulbright has hired a derivatives and structured finance to its Singapore office as partner.
View ArticleDelta Lloyd lands inaugural €600m loan for ‘standby purposes’
Insurance firm Delta Lloyd has agreed its first revolving credit facility for €600m but the borrower has no immediate plans to draw on the facility, according to the Dutch firm’s chief financial officer.
View ArticleBeing on top doesn't mean you’re the best
CEEMEA league tables will be shaken up by a small number of massive trades from the Middle East. It is fair for the banks at the top of the tables to want to crow about their dominance, but issuers...
View ArticleCMC kicks off €150m loan, levloans at the fore
Italian construction firm CMC di Ravenna, has launched a €150m credit facility in a levfin market where loans have the upper hand.
View ArticleESB keeps 15 year open as investors demands payment to play
Undeterred by some investor wobbles around appetite for long dated maturity, Irish state electricity company Electricity Supply Board (ESB) came to market on Tuesday with a €500m 15 year bond.
View ArticleNIB returns to euros for green
The Nordic Investment Bank has mandated three banks to sell its second environmental bond of the year. The paper will be the supranational's second green bond to be denominated in euros.
View ArticleManitoba finds size with euro MTN, looking for benchmark follow-up
The Province of Manitoba sold on Tuesday its largest ever deal in euros, tapping its June 2040 line for €212m. The deal has, according to a funding official at the issuer, opened the way for a public...
View ArticleKfW draws crowd for first negative yielding five year deal
KfW became the first supranational or agency to sell a euro-denominated five year benchmark with a negative yield on Tuesday.
View ArticleHow small is too-big-to-fail?
Regulators don’t want their banks getting any larger, and are offering incentives for firms to shrink. But as Italy gears up to rescue another firm with less than €50bn of assets, how small does a bank...
View ArticleDAA returns for euros after eight years away
Irish airport authority DAA returned to the European investment grade corporate bond market after an eight year absence on Wednesday, as it tapped the long end of the market with a €400m 12 year bond.
View ArticleEuropcar honks at yawning investors for €125m tap
French car hire firm Europcar Group on Tuesday sold a €125m tap of its 2022 bond in a high yield market that is longing for more single-B issuance.
View ArticleWorld Bank taps Italian retail for 10 year dollars
The World Bank made a second visit to the Italian retail market on Wednesday, scoring $668m of 10 year paper.
View ArticleParliament pushes through market abuse rule
Sales and syndicate bankers are going to be subject to new rules on market soundings as of July 3 that bind them to similar rules already binding research analysts, after the European Parliament passed...
View ArticleEAA soars while CoE huffs and puffs
A pair of euro benchmarks from SSA names met with a mixed response from investors on Wednesday. Erste Abwicklungsanstalt (EAA) attracted strong demand for a three year note while Council of Europe’s...
View ArticleAgos Ducato to bring new Italian deal from Sunrise shelf
Italian issuer Agos Ducato announced a new consumer loan ABS deal from its Sunrise programme on Wednesday.
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