Europe
-
After months of waiting as even the great whites of the SSA oceans kept clear of primary bond sales in anticipation, the EU — now a bond market megalodon by comparison — cruised into a bait ball a quarter of a trillion euros big this week to take a €17bn bite out of its enormous pandemic recovery borrowing programme. Lewis McLellan and Bill Thornhill report. -
Europe’s bevy of recovery lending packages is undoubtedly a welcome gesture, but it may remain just that — a gesture. If trends continue as they are, some countries may prefer market lending to concessional loans from Europe.
-
-
-
Two EM bond issuers beat hasty retreats from the primary market this week. But despite the challenges the pair faced, bankers and investors believe the market is open for borrowers looking to pick up a bit of funding ahead of what is expected to be a tortuous US election. Lewis McLellan reports.
-
The secondary market in Schuldscheine is rudimentary, partly as the arranging banks have never wanted to encourage it. But a little known brokerage firm is quietly acting as a go-between, helped by its contacts with non-traditional investors, writes Silas Brown.
-
The strong momentum in the euro public sector bond market continued on Thursday with Italy receiving a huge reception for a new 30 year line, which was sold alongside a tender of various outstanding Italian government bonds.
-
Makinson Cowell joins Lazard — Vikas Seth moves into vice-chairman role at HSBC — Fernando Vicario picked as CEO of BofA's EU bank
-
Permira opted to rescue its debt purchasing portfolio company Lowell from the restructuring that many thought was imminent, with the largest slug of equity support any sponsor has injected in Europe since the coronavirus pandemic began. Covid-19 has crushed cashflows for some debt purchasers, but next year should be a bumper year for NPL buying — for those firms with cash to do so, writes Owen Sanderson.
-
Christian Meissner has an exciting new position at Credit Suisse. But how far can he improve the Swiss bank’s offering to wealth management clients while also handling its culture, asks David Rothnie.
-
Unibail-Rodamco-Westfield’s rights issue is under increased threat from a group of rebel shareholders that disagree with the company’s vision to reset its business. These shareholders have rapidly surpassed the 5% threshold, according to a filing with the with the Autorité des Marches Financiers, after which they have to disclose their holdings.
