Derivatives - All Articles

  • Investors pile into Mosaic solar loan ABS

    California-based solar finance company Mosaic sold a $138.95m ABS deal late last week, with sources saying it was heavily oversubscribed.

    • 31 Jan 2017
  • Upstart issuer readies debut MPL ABS deal

    Online personal loan platform Upstart is looking to issue a debut ABS transaction in the second quarter of 2017.

    • 31 Jan 2017
  • RMBS market embraces new STACR structure

    Freddie Mac priced its first credit risk transfer (CRT) RMBS deal of 2017 on Tuesday, with a new structure offering more subordinated debt embraced by investors and saving money for the government sponsored enterprise (GSE).

    • 31 Jan 2017
  • Block rain includes Axel Springer and TMK of Russia

    Tonight’s hail of block trades includes, besides the Lonza and Zoopla deals, at least two other transactions.

    • 31 Jan 2017
  • Zoopla gets £76m to buy Hometrack in block flat to close

    Zoopla Property Group, the UK owner of property search websites, completed an accelerated bookbuild on Tuesday night to raise £76.5m of new capital, to buy Hometrack.co.uk, a property information service.

    • 31 Jan 2017
  • Bumper 8 thrives with swollen sterling book

    A UK auto ABS deal from LeasePlan was priced on Tuesday, with the £400m senior tranche more than twice subscribed, underlining the positive tone in the European ABS market as 2017 gets underway.

    • 31 Jan 2017
  • More time needed on variation margin, says ISDA

    Derivatives market participants should be given a relief period on variation margin rules after the slated March 1 deadline, the International Swaps and Derivatives Association has said, adding its voice to a rising clamour across the industry.

    • 31 Jan 2017
  • Lonza's Sfr865m block covered in 40 minutes

    Lonza, the Swiss pharmaceuticals company, completed a 9.4% capital increase through a Sfr865m accelerated bookbuild on Tuesday night led by UBS and Bank of America Merrill Lynch, the first step in a two-pronged move to raise Sfr3.3bn for an acquisition.

    • 31 Jan 2017
  • Pillar 2: see or not to see

    Disclosing Pillar 2 ‘guidance’ is discretionary and perhaps even discouraged, but banks risk falling foul of speculation if they choose to keep their full supervisory capital demands a secret.

    • 31 Jan 2017
  • Without specifics, Trump’s deregulation order just a soundbite

    Monday’s executive order from President Donald Trump pledging to cut regulation for US businesses by forcing agencies to get rid of two regulations for every one they introduce was derided by his opponents, but it isn't ridiculous. It just lacks the specifics to be taken seriously.

    • 31 Jan 2017
  • ESMA warns on derivs trade data transfer

    The European Securities and Markets Authority wants to standardise the way that trade repositories and market participants transfer data on derivatives obligations, having warned that problems could arise under the Markets in Financial Instruments Directive II (MiFID II) regulations.

    • 31 Jan 2017
  • Banks beat path to SUEK as Russian loans rev up

    Russia’s Siberian Coal Energy Company (SUEK) has drawn high interest from banks as it becomes one of the first borrowers this year from the country to open talks for a loan.

    • 31 Jan 2017
  • ADB hunts long euros as FADE cleans up

    Fondo de Amortización del Déficit Eléctrico (FADE) was warmly welcomed by capital markets on Tuesday for its first benchmark in 18 months, while Asian Development Bank hit screens looking for its first syndicated euro deal in almost three years. HSH Finanzfonds also raised cash on Tuesday.

    • 31 Jan 2017
  • Natixis hires new DCM head

    Natixis has hired a new global head of debt capital markets, who started earlier this month.

    • 31 Jan 2017
  • Next slug of CHL financing breaks cover

    Co-arrangers Bank of America Merrill Lynch and Morgan Stanley have announced the next chunk of financing for Cerberus’s acquisition of Capital Home Loans from Permanent TSB.

    • 31 Jan 2017
  • Ontario wakes sleeping dollar market

    The Province of Ontario broke the silence in dollar benchmark issuance this week, mandating for a five year deal on Tuesday. Other borrowers are avoiding dollars this week due to holidays in Asia, but Ontario can rely on its strong following in the Americas to push it through, said bankers.

    • 31 Jan 2017
  • Investec Australia Property Fund begins R1.5bn rights offer to buy Sydney offices

    Investec Australia Property Fund, the Johannesburg-listed real estate investment trust focused on commercial property in Australia and New Zealand, set terms for its partially underwritten R1.5bn ($111m) rights issue on Tuesday. Investors marked the shares up 2.3% on the day.

    • 31 Jan 2017
  • Varex signs acquisition loan as it sees through spin-off

    Varex Imaging, the Palo Alto-based X-ray equipment manufacturer, has had a busy January. Following its spin-off from parent company Varian Medical Systems, the firm has found a $600m loan package to acquire PerkinElmer’s medical imaging business.

    • 31 Jan 2017
  • Operational risk capital is the worst regulation of all

    Of all the strange distortions and economic madnesses introduced by capital rules, operational risk capital tops the table. Rather than simplify it, the new Basel rules should scrap it.

    • 31 Jan 2017
  • Cerba mandates banks but multiples crippling buyouts

    Five banks have lined up to underwrite a loan and bridge financing to laboratory services operator Cerba Healthcare for PSP Investment’s secondary buyout of the French firm. But the deal comes as Fitch said on Tuesday that buyout multiples have hit a post-crisis high.

    • 31 Jan 2017