Europe
-
The week started on a green note with ABN Amro issuing its fourth green bond on Monday. It was more than three times subscribed. On Tuesday, Erste Group also enjoyed favourable market conditions with demand at nearly 10 times its final books. -
Issuers and syndicate desks were split over whether the African Development Bank’s inaugural Norwegian krone bond — the first ever social bond in the Norwegian market — could pave the way for further social issuance in the sector.
-
Yorkshire Building Society gave market participants a snapshot of the future this week, when it ditched some of its excess tier two capital in favour of building up a layer of non-preferred senior debt. The good news in the UK is that the Prudential Regulatory Authority looks like it is on board with this kind of transition, and is stepping aside to let financial institutions get on with it as quickly as possible.
-
-
-
Urgent action is needed to attract private sector lenders to fill the shortfall in infrastructure finance and ensure low income countries meet the UN’s Sustainable Development Goals (SGDs), according to leading figures from development banks, the private sector and thinktanks.
-
Primary EM equity capital markets IPOs are back in vogue, riding the momentum of secondary equity EM indices. With investors clamouring for alpha, Middle Eastern and African IPO issuers are lining up to test the appetite for new deals.
-
-
Turkey’s finance minister, Berat Albayrak, announced an economic reform programme on Wednesday that left bond investors underwhelmed by promises of TL28bn ($4.88bn) of capital support for Turkey’s state banks. However, the loans refinancing season is progressing undeterred.
-
The creditworthiness of corporate borrowers in advanced economies has deteriorated while the volume of debt and financial risk taking has risen, the International Monetary Fund has warned. It also flagged up concerns about the sovereign-bank nexus in the eurozone and about market conditions for low income and frontier countries.
-
-
