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  • Retail’s return: Brookfield offers big box CMBS

    CMBS

    Retail’s return: Brookfield offers big box CMBS

    After the worst year ever for UK retail, plunging valuations and landlord implosions, Brookfield is testing the capital markets’ appetite for a bet on the sector’s recovery, launching a CMBS deal backed by nine UK retail parks. The launch came on the same day that the UK government announced that landlords would be banned from evicting non-paying tenants for a further nine months. Owen Sanderson reports.

  • Tables unturned for Turkey despite sukuk success

    CEE

    Tables unturned for Turkey despite sukuk success

    The Republic of Turkey demonstrated its access to international markets this week with a four times oversubscribed sukuk. But the deal does not represent an access-all-areas pass to the capital markets for the borrower, following a turbulent period that has seen little change to appease investors, writes Mariam Meskin.

  • Exchangeable mart grows as cheap financing option

    Equity-Linked

    Exchangeable mart grows as cheap financing option

    A growing number of issuers are turning to exchangeable bonds to raise financing during the pandemic, with this week seeing a series of deals, including one from the Spanish banking foundation Criteria Caixa. Equity-linked bankers expect this issuance wave to continue as more clients seek to get in on the act. Aidan Gregory reports.

  

  

People & Markets

  • ESG banking: the next generation

    ESG banking: the next generation

    As environmental, social and governance linked issuance increasingly take centre stage in the capital markets, the way investment banks are marshalling their resources in this area is undergoing a big shift, with the creation of new, distinct teams increasingly populated by professionals who do not have traditional banking backgrounds.

  • EU syndication ban on banks ‘unfair’ and ‘arbitrary’

    EU syndication ban on banks ‘unfair’ and ‘arbitrary’

    Senior SSA bond market participants have condemned the European Commission’s decision to temporarily exclude 10 of its primary dealers from the Next Generation EU syndication programme due to breaches of European antitrust rules. The Commission’s actions have also raised fears that other European borrowers could follow suit.

  • UK consults on national security veto for listings

    UK consults on national security veto for listings

    The UK government is consulting with market participants about new powers enabling it to block companies from listing their shares in the country on national security grounds. The move comes after concerns were raised about the 2017 listing of energy and metals company EN+.

  • LMA updates legacy transition agreement as deadlines loom

    LMA updates legacy transition agreement as deadlines loom

    The Loan Market Association has updated documentation around shifting legacy loan agreements from Libor to risk-free rates, with the trade body warning that there is only a short time frame left before major deadlines in the transition.

  • EU: a good start but it will get tougher

    There were likely some well earned fist bumps and high fives going on in Brussels this week after the EU inaugurated its Next Generation funding programme with a triumphant €20bn outing. But things won’t always be so smooth for the issuer.

  

Southpaw
by David Rothnie

FIG

SRI / Green Bonds

GlobalCapital China