Top Section/Ad
Top Section/Ad
Most recent
With equity returns under strain, managers would do well to slow the pace of CLO issuance
Issuance has kept going by giving investors just what they want
John Healey resigned because the money was not there for defence. It may not be there for anything
Bifurcation is emerging in how investors treat the hyperscalers
More articles/Ad
More articles/Ad
More articles
-
Mining company Vedanta Resources has returned to the Asian market, after its US term loan ‘B’ failed to take off. The move to put its faith in Asian lenders is wise and the odds of a successful deal are now stacked in the company’s favour. But there is also plenty more to learn from its mistake.
-
The European leveraged loan market has made great strides, and investors are finally looking to it as a credible alternative to the dollar. That is good news for issuers across Europe, but borrowers should be wary of pushing too far too soon. Capacity in the local market is not yet large enough to compete with the US.
-
It would be mad to think that central banks around the world are about to slam the brakes on official stimulus. But the reaction to Ben Bernanke’s slightest of suggestions is a warning that central banks not only need a plan for how to unwind QE — they also need to talk about it.
-
After months of investors seemingly buying any SSA new issue at any price, sanity seems to have been restored this week. A slow Belgian dollar issue and an EIB EARN where the syndicate has taken every step to ensure the deal sells are demonstrating that the buyside is thinking more carefully.
-
Covered bond issuers have finally woken up to the realisation that conditions are not going to get any better for them any time soon. Rather than hold out for yet another basis point, some have decided to pile into the market. There is a risk of overcrowding, but that’s probably better than the alternative — leaving it too late.
-
Loans bankers expect a flurry of activity from South Korea in the next two months but with Korean banks pulling back from domestic lending, borrowers may have to turn to Taiwan for funds. The likelihood is that Taiwanese banks will be ready to support them — but borrowers would be wise to be wary.