Banks

Emerging market bond trading desks were quiet on Monday, as the last business week of the year began with the world reacting to the rapid spread of a new strain of the Sars-Cov-2 virus in the UK. But market participants expect that EM assets cannot remain immune.

Trig, the London-listed renewable infrastructure investment firm, has signed a £500m loan with its margin linked to Sonia rather than Libor, as loans bankers try to encourage borrowers look at their loan documents soon to avoid bottlenecks next year.

In the second part of GlobalCapital China’s awards announcements, we reveal the winning banks across Panda bonds and ABS, as well as the best bank for securities services.

GlobalCapital China is pleased to announce the winners of its annual awards, recognising the banks, issuers and individuals that have made the biggest contribution to developing China’s onshore markets. In part one, we reveal the most impressive issuers in the FIG, corporate and SSA categories.

Why have Indonesian state-owned companies seen resounding success in the dollar bond market this year amid the pandemic? Morgan Davis finds out.

Indonesian high yield companies that had limited access to the international bond market this year due to the Covid-19 pandemic are now preparing for a challenging 2021 — unless sentiment gets a dramatic boost from the vaccine news. Morgan Davis reports.

Foreign central bank action sparked arbitrage opportunities in Swiss francs to shrink in 2020, so investors took a more domestic approach. As foreign issuance dries up, so too do Swissie mandates for international desks. Frank Jackman reports.

Bank capital has gone back under the microscope during the coronavirus pandemic, with policymakers asking themselves whether the Basel III rules can work as intended. Tyler Davies reports.

Nobody will forget 2020 in a hurry. It was the year in which a coronavirus pandemic swept across the globe, created economic chaos and forced central banks into swift action. The resulting measures helped to underpin financial markets, bringing yields from record highs in March to record lows in December. But the outlook has always remained uncertain for banks and insurance companies, whose balance sheets are yet to feel the full impact of the crisis. In such a testing year, GlobalCapital wanted to reward the bond deals that achieved stand-out results for issuers — in terms of pricing, execution and timing. The winners are presented here.

European banks passed a real-life stress test in 2020 as the coronavirus pandemic threatened to topple the economy. The experience has improved the standing of subordinated debt, which is becoming more important for issuers and investors alike. Frank Jackman reports.

Despite funding stresses in certain Latin American countries, bond markets will continue to help the region with its financing needs. For now, this eases the pressure for reform and fiscal consolidation, but issuers must eventually face up to political and social turbulence. Oliver West reports.

Debt was the answer to every problem in 2020, as companies tried to survive the coronavirus pandemic. Dusty revolving credit facilities that had never been touched were fully drawn, firms begged from governments, those that could flocked to the bond market. Now, with hope of the crisis easing, there is an awful lot of debt to clear up. Mike Turner reports.