Europe

Rabobank’s global head of long term funding, Sjaak-Jan Baars speaks to GlobalCapital about the benefits of covered bond funding, the bank’s expected frequency in the market, the outlook for spreads and prospects for green bonds.

Intesa is expecting to close its €5.2bn syndicated loan deal to finance Qatar Investment Authority and Glencore’s acquisition of a 19.5% stake in Rosneft by mid-September after much delay.

When Britain voted to leave the European Union, some saw it as a good opportunity to change insurance regulations in Britain’s favour, but moving away from the European framework will be easier said than done.

Kommuninvest has looked internally to replace its head of funding Anders Gånge, who is leaving to join the Riksbank, Sweden’s central bank.

Straumann Holding, the Swiss maker of dental implants, abandoned a selldown of treasury shares on Thursday night after investors demanded a bigger discount than the company was willing to offer.

Covered bond ratings newcomer, Capital Intelligence Ratings (CI), has set out its covered bond rating methodology. Its approach uses the same main credit risk elements as the other agencies, but differs markedly in the way that it brings these elements together, and how it sees cover pool quality.

While the European markets surprised no one in registering a blank week in terms of new corporate bond issuance, the US market pushed the upper end of expectations, going beyond $25bn. A lower total is expected next week, but the Federal Reserve symposium in Jackson Hole will mean there is still plenty to watch.

The minutes of the European Central Bank's (ECB) July meeting revealed a new and optimistic tone on inflation, but caution on relaxing its accommodative measures.

Financial institution bond issuers and investors are gearing up for a busy September, but overall issuance for what remains of 2017 may be subdued amid limited funding needs.

The state of Russia's banking system is making investors nervous and causing bond prices to drop. But that does not necessarily mean funding troubles for some firms in the sector.

Investors missed a strategic warning from Etihad earlier this year when the company removed the CEO in charge of its $4bn expansion strategy, and were blindsided this week when its partner airline Air Berlin filed for bankruptcy, write Virginia Furness and Aidan Gregory.

“I was confused before I went in, and even more confused when I came out,” was how one EM investor described meeting Etihad and its partners to discuss its now infamous structured notes.