Commerzbank
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Swedish Covered Bond Corp (SCBC) and Bankinter issued €750m covered bonds this week, but after record issuance, their limp receptions may cause others to postpone funding plans.
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Rheinmetall, the German defence and car parts company, has refinanced a €500m revolving credit facility, as its beleaguered defence arm is scrutinised by Moody’s. -
Commerzbank has lost a senior member of its Asia DCM syndicate team, according to a source close to the move.
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As the green bond market grows and becomes more sophisticated, so do the demands from investors for better verification and reporting standards. But with a proliferation of approaches and third party opinion providers, there are calls for standardisation — and even the potential for pricing differentials developing among bonds with different qualities of reporting. Craig McGlashan reports.
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The message from market participants at the Euromoney/GlobalCapital Corporate Summit in Paris on Monday was clear: private placement investors need to go global.
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No deals were announced in the European FIG space on Monday and, with markets entering their fourth quarter on Thursday, pressure could increase on banks still looking to issue debt.
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The European Union has just €1.2bn left of a €5.2bn funding plan for September and October, having raised €2bn with an eight year this week that many bankers praised as evidence of normalisation of the pricing process in euros.
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Several public sector borrowers are tipped to come into a reopened dollar market next week — but some SSA bankers warned that conditions are still not at full strength.
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Banco Popular Español (BPE) and Caja Rural de Castilla-La Mancha (CRCLM) issued Cédulas this week that were barely subscribed and relied heavily on demand from the European Central Bank.
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Swedbank and SR Boligkreditt defied tricky market conditions this week to respectively raise €1.25bn and €500m in five year covered bonds.
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The European Union has taken another bite out of its £5.2bn funding plan for September and October with an eight year effort.
