Europe
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BNP Paribas returned to the Swiss franc market to land a new senior non-preferred issue slightly inside its euro curve this week. In recent weeks, several foreign borrowers have tapped the market and, with tightening levels looking attractive, bankers are confident more could follow. -
Financial institutions have ramped up their sales of green debt at the start of 2021, as they look to take advantage of a quiet funding year by building out their environment, social and governance frameworks. This week, nearly all FIG euro issuance arrived in ESG formats.
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Italy published its much anticipated green bond framework on Thursday, ahead of a debut green BTP later in 2021.
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The transposition of the EU's Covered Bond Directive (CBD) into Spanish law is likely to be credit positive, according to a poll of delegates who attended the Association of Financial Markets in Europe’s 12th annual Spanish Capital Markets Virtual Conference on Thursday.
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Croatia was set to price a bond in euros on Thursday, following two other EM sovereign issuances in the currency this week.
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Schuldschein agents have begun offering borrowers delayed draws in a bid to increase the product's value as a funding option. Many investors are wary of the prospect of deferred funding but are also desperate for supply.
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NatWest has promoted Carla Floyd to head of debt and financing solutions — a newly created job that sits in its ringfenced bank but nonetheless effectively involves running debt capital markets origination for corporate clients.
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The Financial Stability Board is looking into how banks have used their capital and liquidity buffers during the coronavirus crisis and expects to publish a report containing some of its ‘preliminary’ findings in July.
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A sell-off on Wall Street this week has left many wondering how far the equity rally can go before rising inflation spoils the party for innovative companies. But a big pipeline of tech IPOs is still set to emerge.
