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Asian buyers driving callable SSA market have resurfaced in public benchmark deals
Public sector issuers have become more flexible when executing cross-currency interest rate swaps
Politically motivated prosecutions endanger democracy
Solutions exist but political will is necessary
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  • For the best part of two years, ECM bankers haven’t been able to believe their luck. But just as they were starting to enjoy themselves, they find they're in a re-run of less happy times.
  • CEE
    Naftogaz did itself few favours this week with its farcical approach to repaying holders of its $1.6bn Eurobond. When Ukraine’s state owned oil and gas company missed its bond payment on September 30, it risked more than a few irate investors.
  • The longer the European Central Bank waits to talk about sovereign quantitative easing, the closer sovereign QE seems to become.
  • No one is under any illusions that Promsvyazbank’s request for proposals on a loan this week is going to open the floodgates again for big Russian deals. Far from it. The private bank is a long way from state-owned sanctioned entities like Rosneft and has much work to do under great scrutiny if it is to succeed with a small deal.
  • Münchener Hypothekenbank’s €300m ESG Pfandbrief will be remembered as one of the most important milestones in the development of the socially responsible investment (SRI) bond market.
  • The Targeted Long Term Refinancing Operation conducted on Thursday by the European Central Bank is not targeted and will do little to improve the expansion of European credit.