Europe
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Russian potash producer Uralkali is going on the road for five year dollar paper, returning to the international market for the first time in six years. -
Investors are growing more comfortable with Kazakhstan following a $344m trade in Halyk Savings Bank last week, and sources are hopeful the momentum will carry on through to next year as the country’s privatisation wave continues.
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Please take a few minutes to cast your confidential vote 11 recently issued euro covered bonds - including those from Caffil, BPCE and Deutsche Kreditbank.
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Sweden’s consideration of whether to issue a green bond has been careful and thorough, stretching over nearly three years and considering several objections. The Riksgälden (Swedish National Debt Office) is now determined to go ahead with a deal in 2020. Here, the Riksgälden answers GlobalCapital’s questions about its thinking.
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Linde, the multinational industrial gas company, is making a strategic equity investment in ITM Power, the UK hydrogen machine manufacturer, as part of a fundraising plan worth up to £58.2m.
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Michiel Reijnoudt has been appointed as country officer for Denmark at Citi.
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The European Systemic Risk Board is concerned that covered bonds could be fuelling financial imbalances — a claim that some analysts find tenuous. They do, however, agree that house prices are overvalued, particularly in some Nordic countries where the ESRB has identified a risk of financial contagion.
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Hedge funds have been accused of backing UK prime minister Boris Johnson in order to profit from a no-deal Brexit through short positions. But the shorts that Crispin Odey’s fund has outstanding in UK companies look to have failed to deliver over the past month, with share prices of companies rising.
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Corporate, FIG and SSA issuers placed floating rate notes this week, pegged to Euribor, Sonia and Libor. With so many issuers coming to market, bankers are interested to see which other borrowers 'take advantage of the liquidity'.
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Randal Quarles, the head of global regulator the Financial Stability Board, warned on Thursday that cryptocurrencies and increasing fragmentation of financial markets carried the greatest threats to market stability.
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Sweden has mandated SEB as structuring adviser on its debut green bond, to be issued in 2020. The announcement on Thursday morning for the first time puts a definite date on when Sweden will issue. The process of considering the idea has already taken nearly three years.
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