Europe
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Caisse de Refinancement de l’Habitat has mandated leads for eight and 15 year covered bonds, the same maturities that BPCE chose earlier this month with great success. The two deals will be eagerly watched for size of the European Central Bank's order. -
Emerging market bond bankers were keeping their pipelines dry on Monday as fears about the new coronavirus stymied new issuance. But mandates still appeared, as Vodafone Ukraine signalled a roadshow for dollar bonds.
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Lloyds Bank returned to the sterling covered bond market on Monday with its first deal of 2020. It capitalised on the scarcity of short-dated Sonia supply with the first three year bond from a UK issuer in six months, which helped it to price its deal marginally inside fair value.
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Syndicate bankers argue that financial institutions will need to pay a premium to access the bond market in the next couple of weeks, as investors fret about the potential impact of the outbreak of coronavirus in China.
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Shawbrook Bank has appointed a head of fintech strategy as it looks to launch a new cloud-based lending platform.
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The European Banking Authority’s proposed next executive director, Gerry Cross, was rejected by a committee of EU politicians on Thursday amid discontent over a perceived revolving door between the regulator and lobbyists.
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Covered bond spreads are likely to remain well supported next week, with supply set to be thin on the ground. Though spreads are at their all-time tightest levels, market watchers will be closely monitoring the European Central Bank to see whether it lowers its order size in the primary market.
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Dubai’s Emirates NBD Bank has sold a small stake in NMC Health, the beleaguered UAE private healthcare company, to close out a loan owed by Infinite Investment, a vehicle for two of the company’s controlling shareholders.
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