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With Chinese banks needing a recordbreaking amount of bank capital over the next few years and the first deal expected by the end of 2014, the scaremongers are out force. But as with so much to do with China, the reality is unlikely to be as bad as some would have us believe. -
Last October Promsvyazbank signed a loan that its chief executive officer Artem Konstandian told GlobalCapital was the “easiest deal in our history”. A year on and the bank is back — but if it gets a loan away it could be the hardest financing Promsvyazbank will ever raise.
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Last October Promsvyazbank signed a loan that its chief executive officer Artem Konstandian told GlobalCapital was the “easiest deal in our history”. A year on and the bank is back — but if it gets a loan away it could be the hardest financing Promsvyazbank will ever raise.
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Münchener Hypothekenbank’s €300m ESG Pfandbrief will be remembered as one of the most important milestones in the development of the socially responsible investment (SRI) bond market.
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The Targeted Long Term Refinancing Operation conducted on Thursday by the European Central Bank is not targeted and will do little to improve the expansion of European credit.
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With just 96 shopping days left until Christmas and a sleepy market, the topic of some MTN desks’ conversation had already turned towards organising festive drinks earlier this week.
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India broke with its traditional instincts last week by scrapping a restriction on retail investors buying Basel III bonds. Not only is the U-turn in attitude towards retail protection startling given the country's past attitude to that investor base, but it could also be reckless.
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The European Central Bank’s announcement of a third covered bond purchase programme is destined for failure. The size of the public market for benchmark covered bonds stands at €570bn, suggesting the central bank would be unable to achieve anything close to its €500bn target through covered bonds alone.
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You do not spend just short of two decades in two of Europe’s top debt capital markets syndicate teams if you crumble under pressure.
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The inchoate additional tier one asset class is highly complex and comes with many risks, and recent volatility shows it may also be prone to panic attacks. One way to help ensure it remains liquid, correctly priced and, most importantly, as stable as possible is to give investors the ability to accurately hedge their AT1 investments. But that doesn't seem likely any time soon.
