MTNs & CP

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  • SSAs kick off 2021 MTN market

    SSAs kick off 2021 MTN market

    MTN issuance out of Asia and Sweden provided some of the week’s bright spots in what was otherwise a quiet start to the year. With the public market now in full swing, bankers expect the private placement market to get up to speed in the coming weeks.

  • People moves in brief

    People moves in brief

    Loynes extends syndicate responsibilities at Crédit Agricole — CS's equity sales head to join Citi — Flori starts at CEB funding team

  • Crédit Agricole names new global head of MTNs

    Crédit Agricole names new global head of MTNs

    Toby Croasdell has been appointed global head of MTNs, private placements and commercial paper at Crédit Agricole, following the promotion of previous head Benjamin Lamberg last month.

  • MTN volumes fall as FIG issuance dries up

    MTN volumes fall as FIG issuance dries up

    The MTN market has had a tough year, as central bank support programmes and rampant public market issuance ate away at the volume done in private markets. Most notable was the 42% decline in bank issuance, which made up the majority of the year’s fall in MTN volume.

  • Credit Suisse issues ESG-linked structured note

    Credit Suisse issues ESG-linked structured note

    Credit Suisse this week launched its inaugural structured note with a green use of proceeds. Interest in ESG-linked issuance is growing, with an increasing number of retail clients looking to invest in the product.

  • MTNs join bank sub-benchmark flurry

    MTNs join bank sub-benchmark flurry

    Banks were busy issuing sub-benchmark sized deals in the euro public market last week, prompting several issuers to follow suit in the MTN market.

  • Nordic banks to finish 2020 with PPs

    Nordic banks to finish 2020 with PPs

    Nordic banks are likely to focus on smaller private placements for the rest of the year, with many already having enough liquidity that they do not need to print new benchmarks.

  • €STR falls to record low, leaves CP on edge

    €STR falls to record low, leaves CP on edge

    The Euro Short Term Rate (€STR) hit a record low on Wednesday as the latest round of TLTRO funding raised liquidity in the banking system. If €STR is to settle at this new low, it could impact commercial paper funds as investors withdraw in search of higher yields.

  • LSEG reveals new MTN platform

    LSEG reveals new MTN platform

    The London Stock Exchange Group has partnered with fintech firm Nivaura for the exchange's new platform, called Flow. LSEG hopes that its adoption of Nivaura’s general-purpose legal mark-up language (GLML) technology will help to establish it as the industry’s automation protocol of choice.

  • Bank CP plummets but SSAs pick up slack

    Bank CP plummets but SSAs pick up slack

    Bank issuance of commercial paper has fallen sharply in 2020, thanks to generous liquidity provisions from the ECB. But overall issuance has climbed slightly, mostly off the back of increased SSA activity.

  • €STR's foundations quiver as volume drops

    €STR's foundations quiver as volume drops

    The Euro Short Term Rate may be running into the first real problem of its short life. The benchmark was designed to provide a reflection of wholesale euro overnight borrowing costs based on real transaction data. But what if there aren’t enough transactions?

  • €STR on brink of contingency again

    €STR on brink of contingency again

    A sudden dip in the volume of €STR transactions and the number of banks submitting data has led to market participants voicing concerns about the rate.

  • BNPP sells MTNs linked to new Aussie climate index

    BNPP sells MTNs linked to new Aussie climate index

    BNP Paribas has issued a series of green medium-term notes linked to the performance of the new Australian Climate Transition Index (ACT), which is made up of companies expected to thrive in the transition to keep global warming below 2°C.

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