Europe
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FIG market participants expect public holidays, a European Central Bank meeting and an election in the UK to restrict supply in the market this week, with the UK vote giving some bankers a late scare. -
Banco Popular’s additional tier one (AT1) instruments took another beating on Monday, but the FIG sector has taken courage from the market’s ‘mature’ reaction to the Spanish firm’s evolving problems.
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German transformer maker SGB-SMIT launched €590m of loans at a lender meeting on Tuesday, backing One Equity Partners’ buyout of the firm from BC Partners.
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In this week's round-up, the People’s Bank of China says it will maintain a neutral monetary policy, Silk Road Fund and European Investment Fund sign memorandum of understanding for Belt and Road financing, and Luxembourg holds international renminbi forum.
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Another vibrant week in the equity block trades market was capped off on Thursday night by two big trades in the France and the UK.
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Berlin Hypothekenbank (BHH) is expected to issue its second green Pfandbrief next week alongside one or two other transactions. The new issues follow an eventful May, while June could also prove a busy month.
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Superior Industries International, the Michigan-based aluminium wheels maker, has scheduled a roadshow for Monday for €240m of eight year high yield notes.
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For the second time this year Norilsk Nickel tried to push its luck with pricing, only to find that investors would not support it through to the tight end of guidance.
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In this week’s round-up, the Hong Kong Exchange’s USDCNH futures record their second best trading volume on Wednesday, renminbi deposits in Hong Kong increase by 4.1% in April, and China and Germany agree to co-operate on trade and finance.
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HSBC Holdings stormed into the Singapore dollar bank capital market on June 1 with a S$1bn ($722m) additional tier one that notched up a number of firsts, as the issuer took advantage of the liquidity and stability of the currency.
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