Summer proves fruitful for US CLOs, but market still lags
The US CLO market surged in July, with issuance picking up and spreads tightening, but industry insiders are cautioning that the sector still has a way to go before returning to the heights of the past...
View ArticleUBS shuffles investment banking top managers
UBS has reorganised the leadership of its investment bank in Emea, naming new leaders for overlapping networks of sector and country client bankers.
View ArticleScarcity of deals drives CMBS to 2016 tights
The expectation of light deal flow through the summer and into the fourth quarter is pushing spreads on conduit CMBS to the tightest levels of the year, as issuers aim to price the latest offering at...
View ArticleThe madness of operational risk
Bank operational risk is a perfect example of how good intentions can lead to strange conclusions. Commerzbank on Tuesday showed just how bizarre the rules have become.
View ArticleMarkit iBoxx eyes ETFs/TRS with infrastructure bond indices
IHS Markit has launched indices that track US dollar, sterling and euro investment grade infrastructure corporate bonds, as well as US dollar high yield infrastructure names.
View ArticleUK breezes through Brexit with syndication
The Gilt market on Tuesday once again highlighted its immunity to concerns around the UK's vote to leave the EU, as the Debt Management Office conducted a trademark smooth execution with a tap of its...
View ArticleYapi Kredi’s investor friendliness should not be taken for granted
Yapi Kredi chose to cancel its deal before settlement last week, following the attempt coup in Turkey, and a four point drop in the bond's price. The decision was wise and investor friendly, but it's...
View ArticleBelgium to join buoyant dollar market
A string of dollar issuance from public sector borrowers is set to extend into Wednesday, as Belgium mandated in the currency following a pair of deals from an agency and a supranational.
View ArticleLSE merger scrapes approval from Deutsche Börse shareholders
Deutsche Börse has narrowly achieved the required votes from its shareholders to approve its merger with the London Stock Exchange Group, meaning only the possible objections of regulators now stand in...
View ArticleBC Partners sells 7.8% of Com Hem at tight discount
BC Partners sold a 7.8% stake in Com Hem, the Swedish cable TV operator and broadband provider, through an accelerated bookbuild led by Morgan Stanley on Monday night.
View ArticleEnav rises 11% as first post-Brexit IPO takes off
Shares in Enav, the Italian state air traffic control operator, closed 11% higher on their first day of trading on the Milan Stock Exchange today.
View ArticleCLO players to flood annual ABS confab
Information Management Network (IMN) has moved to secure the Eden Roc Miami Beach Hotel as a second host venue for is annual ABS East conference alongside the Fontainebleau Miami Beach, to accommodate...
View ArticleHuge legacy list pushes CMBS secondary volumes
A seller was out on Tuesday afternoon with a $711m list of legacy CMBS senior bonds, pushing volumes in the secondary market past $1bn for the day.
View ArticlePirelli signs €4.8bn loan refinancing with banks
Pirelli, the Italian tyre manufacturer, has completed a €4.8bn loan refinancing.
View ArticleTerna returns for new €500m loan
Terna, the Italian electricity grid company, has signed a €500m five year revolving credit facility, a year after repaying a previous club deal.
View ArticleRabobank sheds more balance sheet weight with whole loan sale
Rabobank said on Wednesday that it sold a €500m portfolio of Dutch mortgages to insurer Delta Lloyd, continuing its €150bn plan to slim its balance sheet.
View ArticleAffordable Housing mandates three for tap
Affordable Housing has mandated three banks to arrange a tap of sterling notes that may come to market as early as Thursday.
View ArticleIneos pumps €1.1bn into ‘benign’ HY
European high yield bankers approached their market's imminent summer break in high spirits, printing another single-B rated deal, from petrochemical firm Ineos.
View ArticleBrave Belgium rewarded with size
Belgium has sold a three year dollar benchmark, finding strong demand in spite of a US Federal Reserve meeting scheduled for Wednesday night and the traditionally quiet summer period.
View ArticleUniCredit to test Pioneer IPO after Santander deal collapses
UniCredit will consider a possible flotation of its asset management business Pioneer Investments, after merger talks with Santander about a merger with Santander Asset Management failed.
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