EMEA

A test case for calling subordinated debt is about to be heard in the court of the capital markets

High net worth Nordic investors have been buying local AT1s as an alternative to equities

New bond volumes surged from 2022, but are still far lower than in previous years

French, German and Dutch banks are forecasted to print a combined benchmark volume of around €75bn, with 2024 looking like another year of positive net supply

◆ High yields pull investors into local currency AT1s ◆ SR-Bank to use proceeds to refinance March AT1 call ◆ Will hold tender for existing bond to reduce cost

French agency aims to diversify currency mix via benchmarks and PPs, and execute euro taps

Swiss metals trader enlarges deal and expands lending group with link to EcoVadis rating

Turkish company’s IPO includes primary and secondary shares

Existing shareholders each gave away part of or all of their rights, making way for new family office to wield a stake

Financial institutions’ funding requirements point to a busy start to their bond sales in 2024. But, as Atanas Dinov reports, banks may need to compete for attention not only with other financial credits but with the broader fixed income universe, as we reveal the results of our FIG market survey

If it is true that interest rates are near their peak, then hopes of a rebound in the IPO market after another dreadful year may be justified, writes Aidan Gregory. But it will be a while before a full normalisation

A cash-heavy Islamic investor base starved of supply — compared to what conventional buyers were served up — helped Middle East and North Africa sukuk issuers secure bigger order books, giving them more pricing power than regional peers issuing regular bonds, writes George Collard