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New Pfandbrief platform brings Liechtenstein’s first ever covered bond
Earnings blackouts and higher funding costs to supress April supply
After nearly barren week, issuance could return after Easter but all depends on headlines
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◆ US companies Pfizer and McDonald’s raise euros ◆ Pfizer pays zero concession but some thought it looked cheap ◆ McDonald’s cooks up almost €4.7bn book at peak
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UK government’s plan to force pension funds to allocate funds to specific assets goes against the pension industry’s core duty
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Convertible market is hot, say bankers
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◆ Demand solid across seniorities ◆ Hybrid regular Veolia moves into green structure◆ Swisscom shows investors also looking for thinly priced debt
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◆ Auto companies reappear in European bond markets ◆ Demand is high for beleaguered sector ◆ BMW tightens three year spread by 40bp
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