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GC Asia
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Social revolvers: the feelgood hit of the summer
Canny loans bankers have devised a social revolving credit facility structure that links a portion of a borrower’s debt directly to Covid-19 era relief spending. It’s a structure that won’t take the markets by storm on what is likely the eve of global recession but ESG-minded investors should still push hard for the companies they own to consider this new type of funding.
04 Aug 2020 -
Hyde Housing lands flat to curve on 35 year sterling trade
Hyde Housing, a UK housing association, paid zero concession on its August 2055 sterling benchmark trade, with the borrower opting to raise debt at the shorter end of the maturity range it marketed to investors on Monday.
04 Aug 2020 -
Hyde Housing holds calls for long dated sterling
Hyde Housing, a UK housing association, held an investor call on Monday for a long dated sterling benchmark-sized bond, with bankers assessing demand for high grade debt in the currency is at a high.
03 Aug 2020 -
Vanguard Group sells largest deal in US PP history
The Vanguard Group, the US asset manager which pioneered low cost, index-tracking investment, has sold $3bn worth of private placements. According to GlobalCapital data, this deal is the largest ever recorded in the US private placement market.
03 Aug 2020 -
Credit Suisse makes changes in levfin, DCM, energy and infra
Credit Suisse has given staff including Jeff Cohen new positions and is also creating a new energy and infrastructure group.
03 Aug 2020 -
Social bonds ‘come to the rescue’ during pandemic
Social and sustainability bonds have blossomed in Asia amid the Covid-19 pandemic, with debt bankers expecting more supply from the asset class for the rest of the year.
03 Aug 2020 -
Great Portland Estates set to price private placements
Great Portland Estates, the UK real estate investment trust, is looking to close a set of private placements next week, according to market sources.
31 Jul 2020 -
Utility stalwarts vanish from PPs as buyers cling to yield targets
Regular credits in the private placement markets in Europe, like UK utilities, have disappeared from the scene since the coronavirus pandemic began because investors have not managed to reduce their yield targets to compete with pricing in public markets. Silas Brown reports.
30 Jul 2020 -
Prosus wows in euro debut with books 13.5 times oversubscribed
Prosus made a barnstorming debut in the European bond market this week, a day after an impressive dollar trade. The Naspers e-commerce vehicle, which attracts investment grade and emerging market investor interest, saw €13.5bn of demand for its €1bn deal.
30 Jul 2020 -
High grade investors try to decipher direction after mixed corporate earnings
European high grade corporate bankers and investors are trying to wrap their heads around what the deluge of corporate earnings reports might mean for their market in the coming months, with some surprise that not all results are as terrible as feared.
30 Jul 2020
