Leader

  • MREL is the real challenge for Greek banks

    MREL is the real challenge for Greek banks

    Investors had plenty of appetite for a super-high yielding additional tier one from Piraeus Bank this week. Will they still be hungry when Greek banks try and issue large volumes of senior debt for their regulatory requirements?

  • EU bank rules: more isn’t always merrier

    EU bank rules: more isn’t always merrier

    European lawmakers are introducing new rules and restrictions for banks in areas where supervisors could be far more effective acting on a case-by-case basis.

  • US convertible bond market comes of age

    US convertible bond market comes of age

    After a year-long frenzy, the primary market for US convertible bonds has cooled, following a rotation out of technology stocks and jitters over rising yields on government bonds. An injection of realism is no bad thing, however, and should be welcomed in a market that has almost doubled in size within the space of a year.

  • Libor’s communication conundrum

    Libor’s communication conundrum

    The life of the Libor will soon be over. But banks have still not found an effective way to communicate the urgency with which their European corporate clients must adapt or suffer the consequences.

  • Rocky markets will reward nimble issuers

    Rocky markets will reward nimble issuers

    Sovereign, surpranational and agency borrowers have endured a rough week in the euro market. Trust in the ECB’s support is flagging and inflation is threatening to return. It’s going to be a bumpy ride and issuers that can steer clear for now would do well to.

  • Coinbase: keep it crypto

    Coinbase: keep it crypto

    Cryptocurrency exchange Coinbase’s $1.25bn foray into the convertible bond market this week may be a sign of cryptos going mainstream. But the sight of such a borrower raising vanilla equity capital was not necessarily something to cheer about.

  • US banks: overvexed, overpaid and over here

    US banks: overvexed, overpaid and over here

    In the film 'Annie Hall', Woody Allen recounts two diners’ experience at a restaurant. “One of them says: ‘Boy, the food at this place is really terrible.’ The other one says: ‘Yeah, I know; and such small portions.’”

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