Europe
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The fledgling green covered bond market is likely to be a promising growth area, with efforts to standardise eligible mortgage loans expected to pave the way for lenders across Europe to issue deals, said panellists at Thursday’s Euromoney covered bond conference.
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GlobalCapital is delighted to announce the winners of The Cover Awards 2016 to mark the successes of those in the covered bond market over the last year. The awards were presented in Düsseldorf last week at the Euromoney/ECBC Covered Bond Congress. Congratulations to all the winners, commiserations to the runners-up and thanks to all who took part. -
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Pricing is growing tight in the European leveraged loan market — very tight. Investors are moaning, but they will receive little sympathy from buyers of other asset classes.
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Austrian gaming company Novomatic joined a surge of issuance this Tuesday as it issued a €500m no-grow bond that pulled in interest from across Europe.
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This was the week the European high yield bond market had been hoping for: five days doing deals for single-B rated sponsor-led mergers, double-B grade corporate acquisitions and pure reverse Yankees, the perfect showcase of its funding abilities after half a year spent amid short spasms of limited issuance.
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Global Ports reopened the market for Russian issuers on Thursday with a seven year dollar deal that drew both plaudits and criticism from rival bankers.
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Telenor sold $1.5bn of shares in VimpelCom, the Russian telecoms company, this week, in a combined equity placing and exchangeable bond that were well received, despite the Uzbek bribery scandal that engulfed both companies last year.
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Bayer clinched a $66bn agreement to buy Monsanto this week, forming a global leader in farming technology and promising a shower of capital markets transactions that will test debt and equity markets — but may also delight them.
