Secondary pricing update: featuring BNG's social debut
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 ArticleGamenet seeks to make it an Italian high yield hat trick with €200m
Gamenet, the Italian gambling machine operator, will open on July 18 a roadshow for €200m of high yield notes — the third high yield issue from an Italian borrower since the UK referendum on June 23.
View ArticleAfrica Finance Corp brings first Swiss franc bond at super-low rate
The Africa Finance Corp, the private sector-backed West African multilateral development bank, made its debut issue in the Swiss franc bond market on Wednesday.
View ArticleEthos Capital begins $137m IPO in Johannesburg
Ethos Private Equity, the largest private equity firm in sub-Saharan Africa, has announced plans to raise up to R1.8bn ($123m) by listing a permanent capital vehicle in an IPO on the Johannesburg Stock...
View ArticleCVC at it again with Lecta’s €590m high yield paper
The recent run of leveraged finance deals by companies owned by CVC continues this week as Lecta Group, the coated paper maker, starts a roadshow on Tuesday for a €590m bond.
View Article‘Game on’ in euros as Spain picks line-up for 10s
Spain is lining up its second 10 year euro benchmark of the year, as bankers responded to a question about market conditions with: “It’s game on.”
View ArticleSSAs straight out of dollar blocks before suspected deluge
A pair of public sector borrowers on Monday hit screens with mandates earlier in the day than usual, which bankers suggested was due to a desire to get ahead of other possible issuers.
View ArticleBW Offshore surges after $100m rights issue is oversubscribed
Shares in BW Offshore, one of the world’s largest operators of floating oil production and storage vessels, traded up in Oslo on Monday after the company completed its Nkr847m ($101m) rights issue.
View ArticleStormHarbour arranging Portuguese electricity tariff ABS for EDP
Portuguese electricity operator Energias de Portugal (EDP) is tapping the securitization market for a fourth time to fund part of its electricity tariff deficit for 2016.
View ArticleFirst GC BondScore results
See how World Bank and NWB's benchmarks scored in GC BondScore
View ArticleSFR ABS gains steam in second half
The US single family rental (SFR) ABS market is gaining traction after a quiet first half of the year, as investors seek additional methods of accessing the US residential housing market on the back of...
View ArticleCLO primary rolls on with Prudential, CSAM deals
The CLO new issue market is rolling headlong into the dog days of summer, with Prudential Fixed Income and Credit Suisse Asset Management each pricing new deals.
View ArticleMPL ABS heats up, while Moody's lifts CHAI downgrade threat
The marketplace loan ABS pipeline is filling up, with SoFi debuting its latest offering on Monday and guidance being announced for a deal from Marlette Funding. Meanwhile, Moody's Investors Service has...
View ArticlePost-Brexit high yield: clueless, but successful
The European high yield market has taken Brexit in its stride, with already as much issuance in the four weeks since the UK referendum as in the first two months of this year. Just don’t ask about the...
View ArticleWhen ordinary information turns dangerous
Rules to stop insider trading are well intentioned, but can stop markets functioning properly, by making the ordinary exchange of views, gossip, colour and rumour dangerous. Reacting to information is...
View ArticleAnother US pension fund sues over alleged SSA trading manipulation
The City of Bristol Pension Fund has joined the Boston Retirement System in filing a lawsuit against a group of banks and traders for alleged manipulation of SSA debt in the secondary market.
View ArticleProjected early 2017 rate hike to boost RMBS market
Markets are eyeing a 51.6% chance of US interest rate rise in the first half of 2017, giving the RMBS market hope for a boost next year as yields rise and investors are enticed back to the sector.
View ArticleNegative yielding covered bonds come of age
The floodgates to negative yielding covered bonds have taken four months to properly open, but with two such deals seen in less than a week, many should now follow.
View ArticleSpain and Cyprus revel in big books, tight pricing
Spain drew nearly €30bn of orders for a new €6bn 10 year benchmark on Tuesday, as Cyprus tightened pricing by 20bp on a seven year deal.
View ArticleDeutsche appoints DACH corporate finance heads
Deutsche Bank has appointed Patrick Frowein and Berthold Fürst co-heads of corporate finance for Germany, Austria and Switzerland.
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