Europe
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France’s IPO renaissance is expected to keep up the pace in the second half of the year, aided by the strong performance of French equities and a rebounding economy. -
The People & Markets section of GlobalCapital could almost have been called the Barclays section this week, given the number of stories that involved the bank. What has been going on?
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The Bank of England said this week that lenders with £15bn-£25bn in assets should still be subject to the minimum requirements for own funds and eligible liabilities (MREL), despite calls from the industry to raise the threshold. The Old Lady will, however, give new and growing firms longer to comply with their targets.
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Guarantor: Federal State of North Rhine-Westphalia
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The European Central Bank made a bold change to its monetary policy on Thursday, effectively pushing any prospect of interest rate hikes into the distant future, making them unlikely before the middle of the decade. Frank Jackman, Lewis McLellan and Burhan Khadbai report.
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Communication is the only real policy tool where the European Central Bank still has wiggle room.
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Bridgepoint Group, the UK private equity firm completed a £907m IPO on the London Stock Exchange this week and surged in trading on its first day. Investors said the reason for the deal’s popularity was that it was too cheap to miss out on. But banks, which will look to bring a large number of IPOs in the autumn, are worried that not all issuers will be as accommodating as Bridgepoint, writes Sam Kerr.
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Borrowers should be encouraged by the recent performance in credit, which has held rock steady amid rising uncertainty.
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The European Central Bank adjusted its forward guidance on interest rates following its meeting on Thursday to bring it in line with its new symmetric inflation target, but the change was not unanimously approved by all governing council members.
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Larger Asian and European commercial bank lenders are being scaled back by as much as 90% in certain Schuldscheine, as sluggish deal flow prompts arranging banks to make tough decisions.
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In 2016, JP Morgan launched a service to help its corporate clients fill board positions with directors well versed in corporate governance. Now, as board composition comes under ever greater scrutiny, the bank is expanding the offering into EMEA.
