The positioning of the European Union’s bonds as a safe asset in the eurozone financial markets has been given a huge boost amid increasing speculation that the borrower's huge volumes of supply will extend beyond the completion of its Next Generation EU funding programme. Burhan Khadbai reports.
The extraordinary amount of cash sloshing around Europe’s corporate bond market has put acute pressure on triple-B rated corporates looking to raise debt, with market participants hoping a summer break will act as a release valve on super-tight spreads. Mike Turner reports.
Equity capital markets are bracing for an influx of Russian IPOs in the autumn, following a slight easing of tensions between the US and Russia. However, not only is the threat of further sanctions still present, but Russian IPO candidates will also be heading into an increasingly crowded and difficult market, writes Aidan Gregory.
SoftBank returned to euro and dollar bond markets after a three year absence to issue an eight tranche deal, raising more than $7bn-equivalent from total demand of more than $16bn, and hitting every empty spot in its funding curve at once.
Finely tuned pricing was the order of the primary market last week, with a drop in volatility leading to a decline in average movements from initial price thoughts. But despite the VIX falling to its lowest level since February 2020, there were still signs of price sensitivity — and average new issue concessions grew in the most affected markets.
Citi has named the leadership for its banking, capital markets and advisory business in Iberia. Meanwhile, it has also announced who is taking on Abraham Douek's responsibilities in DCM after he quit to join Santander.
NatWest Markets has created a new climate and environmental, social and governance (ESG) capital markets team, which will be led by Caroline Haas.
Bryan Pascoe, former head of debt capital markets at HSBC, is joining the International Capital Market Association as chief executive, succeeding Martin Scheck, who has been in the role since 2009.
Citi has moved to bolster its UK investment banking team by poaching James Ibbotson from Deutsche Bank, the second real estate investment banker to switch firms in a matter of days.
Citi named on Monday who will be chairman and co-heads of its banking, capital markets and advisory division for the UK and Ireland.
Banks that have access to diverse pockets of demand will be far better equipped to deal with any contraction in central bank liquidity, which could occur if high inflation spooks policy makers and markets.
BNP Paribas and Jefferies are leading the race for talent as booming corporate finance activity turbo-charges recruitment activity at all levels, writes David Rothnie.
An exciting rebound in the flow of China-into-US listings took an unexpected hit last week when online grocery start-up, Missfresh, plummeted on the first day of trading. While this is worrying, investors are still positive around these IPOs.
The positioning of the European Union’s bonds as a safe asset in the eurozone financial markets has been given a huge boost amid increasing speculation that the borrower's huge volumes of supply will extend beyond the completion of its Next Generation EU funding programme. Burhan Khadbai reports.
Macquarie sold its first group level bond in the Swiss franc market on Thursday, harnessing an “astonishing” number of investors to twice increase the size and land inside its euro curve.
DigitalBridge and Vault Digital Infrastructure emerged in the securitization market on Thursday, satisfying the investor appetite for extra spread during a dry spell for yield. The junior ‘A-2’ notes from DigitalBridge came in with a coupon of 3.93%.
German telecoms and internet company United Internet has issued one of the largest Schuldschein deals this year, raising €750m according to market sources, more than doubling its initial target of €300m.
Kantonsspital Graubünden sold a successful debut bond on Thursday, surprising bankers as it slipped in before the summer break.
German telecoms and internet company United Internet has issued one of the largest Schuldschein deals this year, raising €750m according to market sources, more than doubling its initial target of €300m.
Positive momentum on liability spreads and attractive equity arbitrage are driving a boom in new CLO warehouse formation, with banks competing to offer better conditions. With perhaps 200 facilities active, the blistering pace of CLO formation is set to continue later in the year.
Brazilian bank BTG Pactual added $250m to its January 2025 notes on Thursday, targeting retail investors as it sought to raise shorter dated funding than on its last bond market outing at the start of the year.
Some of Nomura’s senior Asia equity capital market bankers have resigned amid a host of other recent exits, GlobalCapital Asia understands.
SAIC-GMAC Automotive Finance Co is continuing its run of deals in China’s auto loan ABS market. It is now on its fourth outing of the year, with plans to price the Rmb10bn ($1.55bn) transaction on Thursday.
Mister Spex, the German eyewear retailer, remained buoyant in trading on Friday after its €326m IPO on the Frankfurt Stock Exchange.
Barclays has appointed Anita Tanna as managing director and head of EMEA generalist and specialist cash sales in London, having hired her from Citi.
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