Europe
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The cost of primary dealerships is a constant source of trouble for banks, and following several high profile departures from European dealerships, GlobalCapital dug into the data to examine how performance in primary dealerships matches up with the wider world of DCM. -
The International Swaps and Derivatives Association and PricewaterhouseCoopers were among those wading in with suggestions this week as regulators sought consultation on how best to install a framework to resolve failing central counterparties (CCPs).
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Deutsche Börse has completed the share exchange offer for its planned London Stock Exchange merger with a final acceptance ratio of 89.04%, far in excess of the required threshold despite a shaky start.
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A seemingly unstoppable flow of dollar issuance from public sector borrowers looks set to spill into next week, after a slightly undersubscribed deal early this week failed to dent sentiment for other trades.
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Recent signals from European regulators over the treatment of additional tier one coupons are great for bank debt investors, but a softer approach may also open up the market to unfamiliar faces.
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The Bank of England’s revamped quantitative easing programme hit an early snag last week when the central bank failed to source enough Gilts on just the second day of purchases.
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Trailstone — Gunvor — Powerflute — Stanbic — Zain
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The euro market is braced for a difficult close to the year. Given the turbulent conditions expected, green bonds may come into their own.
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A handful of small deals enlivened a typical August week for ECM activity in London, with the Alternative Investment Market at the centre of the action.
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Borrowing conditions for Russian issuers are the best they have been since 2013 and, as changes to onshore funding conditions push more borrowers offshore, several corporates as well as the sovereign are expected to raise international money ahead of US elections in November, according to DCM heads at VTB and Sberbank.
