.png){kind=logo}
GC Asia
-
Come on UK, get with the programme
The UK is in many ways a green leader. Starting to issue green Gilts would be peripheral to that, and not necessary to environmental progress. But for a country that desperately needs to buff up its image, it is low-hanging fruit.
30 Jun 2020 -
UK’s non-banks deserve a saviour too
The UK government allowed the growth of the non-bank sector after the global financial crisis, but during the coronavirus pandemic, it has left it to fend for itself.
30 Jun 2020 -
Supply chain shift will disrupt Asian banks
Asian supply chains are facing unprecedented disruption. Banks in the region should take notice.
30 Jun 2020 -
TKE underlines the toxicity of the covenant wars
ThyssenKrupp Elevator (TKE) is a deal of superlatives: the largest European high yield debut, the largest European LBO in over a decade, the last LBO before coronavirus, the most levered debut industrial, and the worst-ever covenant package — or at least, it was at first. Three days after launching the bond leg of the deal, the sponsors and leads capitulated, erasing almost every controversial term in the docs — perhaps the largest ever retreat and the biggest investor victory in the long-running war over bond covenants. But it’s too soon for investors to celebrate, as the episode only highlights how damaging this conflict has become.
29 Jun 2020 -
Capital markets and transition bonds: a good fit for Asia
Castle Peak Power Co’s latest energy transition bond shows the potential of the product in Asia — and the big role capital markets can play in moving towards a greener future.
24 Jun 2020 -
Renewables need some benign financial engineering
Clean, green energy exists; it is more or less unlimited and it is increasingly cheap to harvest through solar and wind farms. Why are we not converting to renewables wholesale — especially in poor countries, which tend to have abundant sunshine? A significant part of this market failure is financial, and capital markets must solve it.
23 Jun 2020 -
UK crisis response: it ain’t over yet
The UK may be loosening social restrictions as the rate of coronavirus infections abates, but the Bank of England and the government cannot let up the fight against the economic and market impact of the virus.
23 Jun 2020 -
Insurance companies are playing it safe — and doing it well
The repeated presence of European issuers in the bond market of late is testament to the prudence with which they are building up capital for what could be tough times ahead.
23 Jun 2020 -
Coronavirus may prove a decisive moment for active managers
The Covid-19 crisis, and particularly the equity rally since the bottom of the sell-off in March, should cause deep reflection for active fund managers at risk of underperforming if they stick to their principles.
23 Jun 2020 -
Green hybrids are a company's new best friend
Green hybrids are still a niche part of the corporate treasurer’s arsenal, but with balance sheets battered by the coronavirus pandemic and investors clamouring for both sustainability-linked and higher yielding debt, now is the time for more borrowers to take the plunge.
23 Jun 2020
