Banks
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The dollar corporate bond market has a more subdued feel this week, after its stellar start to the year, as US issuers are moving into earnings blackouts. But even as politics took centre stage as Congress moved to impeach President Donald Trump for the second time, ahead of Joe Biden’s inauguration on January 20, corporate borrowers quietly churned out deals.
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A book of more than €55bn for a €10bn bond priced with a new issue premium of 1bp would be a gratifying outcome for any sovereign issuer. But Wednesday's syndication for Spain instead attracted robust criticism over price moves during bookbuilding which derailed what was on course to be the biggest order book in bond market history.
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Barclays has hired Marie Freier as global head of ESG research.
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Tight valuations in euros are making it difficult for banks to impress investors with new senior trades. Issuers may have to pay up or switch focus to other asset classes to make the most of the January market.
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Digital Colony, which invests in mobile and internet infrastructure, has hired Latifa Tefridj-Gaillard as head of Europe capital formation.