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GC Asia
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Don’t seek logic in stock price moves
Imagine trying to explain stock markets to an alien or an intelligent caveman, someone who has grown up in a world without the flicker of red and green numbers, the theatre of shareholder meetings, the strange spectacle of Jim Cramer’s pre-scheduled rage.
15 Apr 2021 -
Showing ESG rankings everywhere is good biz
ESG ratings are starting to appear in term sheets for high grade corporate bond issuers, regardless of whether or not the deal is a themed issuance. This is a sensible move and ought to have a positive impact on the curve for the issuer.
13 Apr 2021 -
Being green no longer enough in battle to attract equity capital
Renewable energy has been one of the hottest sectors in Europe’s equity capital markets in recent times but investors are no longer just buying companies for their verdant hue. Issuers must now prove they have the financial strength to back their environmental credentials.
13 Apr 2021 -
Another crunch decision for Turkey's central bank
Turkey's central bank once again faces a critical rates decision this week. Any whiff of a cut in rates would be disastrous for the volatility-stricken country and its access to capital markets.
13 Apr 2021 -
Asia’s capital markets: in for a rough ride
Asia’s capital markets had a hot first quarter, with volumes soaring across both DCM and ECM. Momentum still appears strong — but market participants should brace themselves for a tough time ahead.
08 Apr 2021 -
Revised Taxonomy will hinder green bonds
The European Commission’s draft Taxonomy for Sustainable Activities will stymie green bond issuance as it’s based on an unfair system that excludes mortgages on many countries’ most energy efficient buildings.
06 Apr 2021 -
Deliveroo woe doesn’t have to shut European IPO market
The disastrous listing of food delivery app company Deliveroo in London last week sent shockwaves through equity capital markets, with some suggesting it will dampen Europe’s IPO market in the next few weeks. But it needn't be as bad as all that. Investors are keen to take part in IPOs — they just need greater discounts that match their perceptions of risk.
06 Apr 2021 -
Recurring revenue lending must protect its brand
When hot new debt products are on the march, someone will always push the boundaries beyond what is tolerable. In the case of recurring revenue loans, that would be a mistake.
06 Apr 2021 -
MetLife’s EFL result shows bilateral funding potential
The fact that a large US insurance company could offer the English Football League better lending terms than UK banks or other investors is revealing. UK lenders are shying away from deals, which has opened the doors to institutional investors. The speed with which a tailor-made EFL deal was done shows how quickly they can replace traditional creditors.
30 Mar 2021 -
Rethinking dividend recaps
Asian lenders have often balked at dividend recaps. They should reconsider.
30 Mar 2021
