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Bob Fernandez started at Wells Fargo this month as head of international debt capital markets and syndicate. He joins just after Harvey Hoogakker was hired in July as managing director of credit origination and syndication, write Francesca Young and Michael Turner.
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Société Générale is planning to test out the temporary writedown loss-absorption mechanism in a new CRD IV additional tier one bond for the first time. The industry lobbied intensely for the mechanism but some investors now say it shouldn’t merit tighter pricing. What then, is the point of issuance?
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Société Générale is planning to test out the temporary write-down loss absorption mechanism in a new CRD IV additional tier one bond for the first time. The industry lobbied intensely for the mechanism but some investors now say it shouldn’t merit tighter pricing. What then, is the point of issuance?
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After a long road to recovery, Commerzbank’s markets and corporates business was the group’s stand-out performer in the second quarter, writes David Rothnie.
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You’ve got to hand it to investment bankers. When it comes to generous holiday allowances, teachers normally get the brunt of the resentment from the rest of the working population. But at least their holidays are official — bankers just talk their way into one.
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Barclays’ £5.95bn rights issue, launched to fill a leverage gap identified just a few weeks ago, does exactly what it says on the tin. Worth considering a few points, though…
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Barclays has made no bones about its commitment to the Coco market, which it now aims to access again as part of its capital raising plan. But its past deals have had a rough ride in the secondary market and another one may be challenging. After Tuesday’s results, potential buyers need the promise of perfect execution this time.
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The explicit rating link between a covered bond and its issuer is becoming increasingly tenuous.
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Oh, how quickly loans bankers come alive when an exciting new money deal is being touted! Aspen’s $2bn M&A facility, launched last week, brought with it a tidal wave of praise — most notably from bankers not even on the deal. But that didn’t stop them having a giggle at the basic mathematical mistake in the Aspen invitation email from Bank of America Merrill Lynch — one of the lead banks.
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The recent US Treasury volatility has hit emerging market bonds hard, but worse in dollars than in euros. Should CEEMEA borrowers therefore turn now to the euro market? The time for that push is not here yet, but it could come soon.