Europe
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Pipeline of new CEE bonds, including some from FIG issuers, is on ice until Easter
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All deals are off till volatility subsides, IPO windows are vanishing
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Deals being shunted to next week as already small issuance window slams shut
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Autopistas del Atlantico and ID Logistics also refinance term loans
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Champion issuers needed to soothe nerves in thriving market
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Borrowers shut out this week need strong market close on Friday
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Deals get done at tight discounts while ECM activity remains low
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Australian company gets more than double demand but could not tighten from IPTs
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Problems surrounding the Swiss banks have resurfaced to affect other European lenders, halting and repricing the FIG bond market
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The UK market is no lost cause, but it must stop procrastinating and get a grip on its investor problem
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BTPs have widened from their tightest level against Bunds in nearly a year this week as the fallout from the SVB crisis brewed in the US banking sector and beyond, driving a flight to safety among investors.
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Volatility caused by SVB's collapse may delay the next round of European ECM deals