Latest news on corporate MTNs, private placements, Schuldscheine

• Structured MTN issuance falls

  

  Low market volatility, a fall in Formosa issuance and the introduction of alternative risk free rates have all led to a sharp decline in structured, callable and floating rate MTN issuance, said MTN bankers.

  • 17 Apr 2019

• People news in brief

  Gaab retires from Deutsche — Bank of America nabs FIG banker from Morgan Stanley — Credit Suisse bumps up IG trading team

  • 17 Apr 2019

• Lufthansa, VC Trade power move will pay off in Schuldschein digital battle

  

  German airline Lufthansa took a daring step in mid-March and decided to launch a Schuldschein transaction exclusively via the digital platform VC Trade. It has proved a shrewd move and will likely be game-changing for VC Trade in the battle for digital dominance.

  • 17 Apr 2019

• Exclusivity pays off as Lufthansa sells SSD

  

  A bid by VC Trade, an emerging technology platform for the Schuldschein market, to overcome resistance and cement its position in the market appears to have paid off this week, as a deal for Lufthansa executed solely via the platform succeeded handsomely. This could prove a turning point for the use of tech in the Schuldschein sector and perhaps other corporate debt markets. Silas Brown reports.

  • 17 Apr 2019

• SAINTS goes marching into US PP market

  

  The Scottish American Investment Co (SAINTS), an investment trust managed by Baillie Gifford, has raised £80m of debt in private placements.

  • 15 Apr 2019

• CPI hybrid buyers blindsided by $1bn lawsuit days after launch

  

  CPI Property Group, a central and Eastern European specialist, raised €550m from a hybrid bond on Tuesday, but the debt slumped on Wednesday when a US hedge fund with which it has been fighting a legal battle filed a new $1bn lawsuit in New York. David Greenbaum, CPI’s CFO, told GlobalCapital the allegations were ridiculous and had been concocted in a deliberate attempt to disrupt the deal.

  • 11 Apr 2019

• Thames Water adds Corbyn clause to PP docs

  

  Thames Water’s latest crop of holding company private placement debt issues contains language to protect investors from the effect of a Labour government — and particularly leader Jeremy Corbyn's vow to renationalise the water companies. Debt issued under the new documents features a ‘nationalisation event’ that would make it repayable immediately. Owen Sanderson and Silas Brown report.

  • 10 Apr 2019

• Iliad is the latest French firm to offer Schuldschein

  

  French telecoms company Iliad has launched a €300m Schuldschein, joining a parade of French firms raising debt through the market this year.

  • 09 Apr 2019

Corporate private debt news archive