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Structured Bonds

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There is no crock of equity gold at the end of the rainbow
Partner has joined Clifford Chance from the newly merged rival magic circle law firm
Innovation is rampant again in structured finance
MAG’s tightly priced bond adds credence to claims that Thames Water’s woes are isolated
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  • Prospective lenders recommitted to Scandlines’ €875m refinancing package on Wednesday, after the German-Danish ferry operator changed the terms and pricing of the debt in its favour late last week.
  • Dr Martens club deal - Host Europe's German growth - Nocibé launches LBO loans - Stahl to issue debt
  • London-based Mint Partners is looking to put together a novel CLO-type transaction backed by loans made to UK property developers for prime residential developments in London.
  • Abengoa, the Spanish construction and industrial conglomerate, sold a €50m tap of its 2018 bonds on Wednesday.
  • Double-B rated high yield bonds issued in Europe and the US in the last year could be the place to be for investors, according to Fraser Lundie, co-head and senior portfolio manager at Hermes Credit.
  • The Automobile Association has joined a record 12 other issuers in selling a PIK toggle bond in Europe this year. This week's £350m transaction was the largest PIK toggle in sterling this year.