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
-
The old order is almost bereft of any bank still willing to support the structured finance business. Boutiques have spotted the opportunity — but will need strong stomachs and a hefty slug of capital to succeed.
-
Another week, another buyback. Chinese property developer Greentown became the latest issuer to launch a tender for its high yield bonds last week but, unlike other recent debt restructurings, it has been widely cheered by investors.
-
The last thing UBS needed was more change to its senior management, especially in its troubled investment bank. But the departure of Jerker Johansson and the installation of Alex Wilmot-Sitwell and Carsten Kengeter has brought renewed hope that Ossie Grübel has big plans for his investment banking division.
-
The convertible bond market was once dominated by arbitrage funds reliant on short-selling and leverage. Not any more. The latest crop of new issues highlight a new investor base that is driving a change in the product — a change that has made it attractive to investment grade issuers.
-
The UK chancellor, Alistair Darling, is set to revitalise the moribund public securitisation market on Wednesday when he unveils a £50bn package of guarantees and other support measures. The market needs a solution that will ease the return of a fully-private market in the long term.
-
Investors still can’t decide if Gazprom’s $2.25bn deal printed last week was too cheap or too expensive. But the issue’s success shows that among Russian issuers, Gazprom remains the most savvy of all. Few may follow its example, but the borrower found a deep pool of private bank demand and can be applauded for having done so.