Europe
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Qatar Investment Authority and Glencore have agreed to sell a 14.16% stake in Russian oil company Rosneft, out of their jointly held 19.5% stake, to Chinese energy company CEFC China Energy. -
MPs are preparing to scrutinise the Financial Conduct Authority’s proposal to create a new premium listing category for sovereign-controlled companies, due to fears that it could weaken corporate governance standards of UK-listed companies.
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Sherwin-Williams, the US paint and coatings maker, has issued its debut Schuldschein for €245m. It is the first US company to come to the market this year.
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The European Banking Authority’s recommendation that an issuer should have defaulted before a covered bond maturity can be extended could set a “perilous path” for Danish covered bonds warned DBRS in a note to clients. But the EBA said its recommendations are compatible with Danish law.
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Etienne Lacault has joined Bank of Ireland’s leveraged syndicated finance team, the bank said in a notice on Friday. He last worked at Société Générale.
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Rates markets have barely reacted in the aftermath of Thursday’s European Central Bank meeting, and covered bond issuance conditions are likely to remain constructive. Despite this, vigilance is required as the positive situation can easily lead to complacency.
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SoftBank, the Japanese telecoms and technology group, received the highest speculative grade ratings for its potential new bond deal on Friday. It will aim at repeating its notable success in the European high yield market in 2015
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European Union member states are pushing back against the European Commission’s June 13 proposal on supervising clearing houses (CCPs), which could forcefully relocate systemically important institutions to within the EU, with questions of sovereignty and liquidity fragmentation arising.
