Europe
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This week's funding scorecard looks at the progress Nordic agencies have made in their funding through the first half of 2017.
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Barclays was looking to add to the £4.8bn equivalent of senior funding it has done this year with a sterling deal in a ‘hot’ tenor on Friday. The deal arrived as Mark Carney, the governor of the Bank of England, talked about a rise in interest rates in the near term. -
September has not been as busy by volume as usual in the corporate bond market, but that is more because of the size of deals, rather than the number. Syndicate managers expect this trend to continue in October with healthy pipelines in front of them.
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The IPO of Pirelli, the Italian tyre company, has been priced at €6.50, the bottom of the revised range, valuing the business at €6.5bn.
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China and Luxembourg made their first collaboration in equities on September 28, launching a green stock index. But experts say that while indices such as this are necessary for Chinese green finance to grow, they are not sufficient to ensure its success.
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Sustainability is a term used liberally and vaguely in the financial world. But it has a precise meaning: living so that we do not make it harder for future generations to live. That principle is violated by today’s economy, including its financial markets. But little by little, the heart of markets — the decisions investors make — is facing up to what it has long repressed. Jon Hay reports.
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This week’s slate of covered bonds saw record after record broken — a mania that was evident across the whole FIG sector. With European rates set to remain at their lows throughout next year and the macroeconomic backdrop continuing to improve, it is difficult to see what could spoil the party.
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Portuguese bank debt all but disappeared from the market a few years ago, but with the Novo Banco sale poised to go through and S&P upgrading the sovereign’s credit rating, it may not be long before the pipeline fills up, writes Jasper Cox.
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Northumbrian Water brought the first sterling corporate bond of the week when it announced a £300m 10 year deal on Thursday. It was almost a year to the day that it priced an identical deal.
