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SRI

Top section

Top section

Bitcoin ABS edges forward as price plunge turns collateral to cash

When loans' LTVs hit 80%, Bitcoin stakes are liquidated in seconds
London continues to benefit from metal price volatility

Congo picked the best of an unappealing bunch of options

The yield was ultra high but Congo had little room to manoeuvre

Yondr takes the stage, as Europe’s data centre ABS market comes of age

US market remains the model as template issuance takes shape
London continues to benefit from metal price volatility
Sub-sections
  • SRI
    The World Bank’s pandemic bond is still yet to trigger and pay out to support poor countries. This appears to be because of the slowdown in new reported Covid-19 cases in China since February.
  • Adani Transmission has raised a further $90m US private placement, according to market sources, after it became earlier this year the first Indian company to raise debt in the market since 2007.
  • The UK's Imperial Brands, formerly Imperial Tobacco, has signed a new €3.5bn three year multi-currency revolving credit facility, slightly increasing its main bank line, despite not having plans to draw down.
  • S&P Global Ratings said on Monday that it has placed 25 tranches from 15 CLOs with high exposure to energy sector obligors on ratings watch negative.
  • ABS
    Many investment banks are circulating orders for bankers not fund any committed debt transactions in the aircraft sector, including ABS deals, a decision spurred by market volatility from Covid-19. On top of restrictions on in-person meetings, macro factors such as city lockdowns and travel bans are putting a damper on the new issue pipeline.
  • Siberian Coal Energy Co (Suek) is seeking financing from lenders, according to two market sources. The borrower is braving lenders' wariness about coal companies, which last year weighed on demand for a Suek loan, and the global volatility caused by the spread of the Covid-19 virus.