Europe
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Moonpig, the UK online greetings card company, is increasing the size of its IPO and pricing the deal early after a deluge of orders for stock from investors. -
Amendments to the German covered bond law, which are expected to be signed off within the next few months, contain key details on how soft bullet extensions will be triggered, the interest rate that is applied in such an event and the size of the liquidity buffer required.
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German politicians are planting their flags, preparing for the leadership tussle that is set to follow chancellor Angela Merkel's departure from the post later this year. Low rates have increased debt's popularity as the means to fund economic stimulus but Germany’s frugality is legendary and now a fight is brewing over relaxing its famous debt brake, writes Lewis McLellan.
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Banks and other financial services firms continue to adapt to Brexit, with more than 400 firms estimated to have moved some part of their business to the EU.
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HSBC appoints two within AIBC — Credit Suisse Asset Management hires head of origination in direct lending — Richard Luddington joins Rothschild
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Austria, Greece and Iceland all received huge order books for their first syndicated bonds of the year, coming hot on the heels of a European Union jumbo dual-tranche sale earlier in the week.
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The European Union continued where it left off last year as it returned to the bond market this week with another jumbo deal that attracted a huge order book for the first deal of the year under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.
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Small and medium-sized European banks could be looking at adjustments to their minimum requirements for own funds and eligible liabilities (MREL), or longer transition periods, following a review of the EU crisis management framework this year.
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US equity markets suffered their worst single day since October on Wednesday, as equity investors reacted to growing concerns over stock valuations and fears of Covid-19 vaccine disappointment. Equity capital markets bankers hope that investor sentiment will hold for new deals, even if global markets take a turn for the worse. Sam Kerr reports.
