When the repo comes to call: Margin rules will only bring more reg risk
The coming market rush to comply with margin rules on uncleared swaps will be a big challenge in itself, but regulators need to think hard about the unintended repo risks they are creating by requiring...
View ArticleICE considers appeal as CMA demands Trayport sale
Intercontinental Exchange is weighing up whether to appeal a decision by the UK’s Competition and Markets Authority that the exchange operator should sell its recent Trayport acquisition to preserve...
View ArticleFCA to supervise IPO allocations, meddle with league table criteria
The UK’s Financial Conduct Authority will look over some banks’ shoulders to make sure they are allocating IPOs fairly and is trying to get league table providers to reduce incentives for banks to...
View ArticleGoldman Sachs reports jump in profits on back of strong trading
Goldman Sachs reported third quarter earnings on Tuesday, posting a year-on-year increase in revenue on the back of improved conditions in its fixed income trading unit.
View ArticleDeutsche prices single asset CMBS test deal
Deutsche Bank priced the first ever single asset CMBS offering to comply with risk retention late last week, giving the market the first glimpse of what a deal tied to a single property will look like...
View ArticleOrange Lake prices no-grow timeshare ABS
A $176.189m timeshare securitization from Orange Lake Country Club, Inc. was priced on Tuesday, adding to the growing wave of esoteric ABS that has washed over the market in October.
View ArticleCIMB eyes stockbroking JV with China Galaxy
Malaysia’s CIMB Group and China Galaxy Securities Co said they are in talks to form a 50:50 joint venture for their stockbroking operations.
View ArticleMoscow preps Bond Connect launch
Plans abound to connect China’s bond market with offshore counterparts but they have had little success until recently. Now Russia’s National Settlement Depository (NSD) is close to launching a link in...
View ArticlePeripheral yield draws new ABS buyers
Union De Creditos Inmobiliarios (UCI) expanded the investor base for its Prado Spanish RMBS shelf in its latest deal, despite taking a bullish stance on pricing. However, not all investors are...
View ArticleKommunalbanken squeezes price on green bond
Kommunalbanken printed its third ever green bond on Wednesday, using the "extra selling point" of the green factor to pull in an impressive book for the four year deal and pricing it through its curve.
View ArticleWorld Bank to reopen 10 year dollar market
The World Bank will on Thursday attempt to resurrect the 10 year part of the dollar curve, a sector that has had next to no benchmark issuance from top tier issuers in the second half of the year.
View ArticleRallye issues first equity-neutral exchangeable after Casino plunge
Rallye, the French listed holding company that controls supermarket group Casino, today became the first issuer to use an equity-neutral structure on an exchangeable bond, rather than a convertible.
View ArticleFugro uses subordinated CB to repay US PP
Fugro, the Dutch geosciences company, turned to the convertible market today to meet a specific corporate finance need, much as Rallye did in a different situation.
View ArticleSFR down in 2016, but idiosyncratic issuance should continue
Issuers have come to market with only a handful of single family rental (SFR) securitizations in 2016, but a spate of recent deals shows that issuance should continue in fits and starts as aggregators...
View ArticleCalifornia "true lender" case a boon for SLABS, MPL ABS
A recent ruling in California in which the court rejected the argument that a bank that made loans on behalf of Sallie Mae was not the “true lender” is a boon for marketplace loan and student loan ABS...
View ArticleCR Pharma narrows range on HK$15bn IPO
China Resources Pharmaceutical Group has tightened the price range on its IPO, putting it on track to raise up to HK$14.8bn ($1.9bn), according to a banker on the deal.
View ArticleJP Morgan mulls offloading China JV stake
JP Morgan is looking to sell its stake in its China joint venture with First Capital Securities, which kicked off operations back in 2011.
View ArticleStanChart unveils bank line-up for SDR bond
Standard Chartered Bank (Hong Kong) has unveiled the syndicate for its upcoming special drawing rights-denominated bond.
View ArticleDebutant trio line up roadshows in Lat Am
Argentine oil company Compañía General de Combustibles and lender Banco Macro joined Trinidadian utility name Trinidad Generation Unlimited (TGU) in the Latin America and Caribbean bond pipeline this...
View ArticleSuriname debuts as investors back reforms
Suriname’s claims to be turning around its public finances found traction with bond investors after the sovereign’s debut international bond was priced tighter than many market participants expected on...
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