Europe
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Now that SSAs are back to pricing at the spreads they offered before coronavirus hit, central bank investors are pushing back and reducing their orders. -
Kaspi IPO has officially launched its second attempt at a London listing and already built up a substantial shadow book of demand for the deal.
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This week in Keeping Tabs: investment strategy in the age of quantitative easing and a possible Joe Biden presidency in the US, while in the UK, financial firms are still adjusting to Brexit.
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IAG, the airline holding company that owns British Airways, had no seats remaining as it priced its €2.75bn rights issue, with 100% of shares taken up by shareholders.
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A former director in Garanti BBVA's funding department has moved to rival lender Akbank to oversee international funding.
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By offering a hefty pick-up over national champions, Bluestep Bank, a Swedish non-standard mortgage lender, attracted a hefty order book for the second deal from its newly established covered bond platform this week.
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The long-awaited Science-Based Targets standard for financial institutions has arrived. It is one of the most ambitious attempts so far to wrest the financial sector from its path towards climate destruction.
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The ECB is mulling the idea of green Targeted Longer-Term Refinancing Operations to boost green lending. It's a noble aim — but it should work with the policies it has first, if it is serious about environmental impact.
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Public sector debt market participants are still on tenterhooks, awaiting the arrival of the EU’s now much delayed funding programme. Many of the sector’s top borrowers have all but cleared their decks in preparation, but some are still grappling with inflated borrowing requirements as a result of the coronavirus pandemic. Lewis McLellan reports.
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The sustainability-linked debt structure, which has already spread from the loan market to corporate bonds, has made its first appearance in a convertible bond, with a deal by Dürr. CB specialists expect it will take root in that asset class too. Jon Hay and Aidan Gregory report.
