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Latest News
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ECB is revving the engine but the handbrake is on
Europe’s capital markets are back in super-demand mode.
20 Feb 2020 -
Intesa fires starting gun on new phase of Italian bank consolidation
Intesa Sanpaolo took the market by surprise when it launched a takeover bid for UBI Banca this week. A successful deal could set off a long overdue wave of mergers and acquisitions within the Italian banking sector, which ECM bankers are hoping will be financed through a slew of new rights issues. Tyler Davies and Sam Kerr report.
20 Feb 2020 -
Sonia gets makeover as EBRD shifts new structure
The European Bank for Reconstruction and Development this week became the first borrower to deviate from the standardised coupon calculation method for Sonia-linked floating rates. While investors backed the new structure, with the deal receiving a huge order book from a large number of accounts, there are some market participants who believe the disruption was unnecessary, writes Burhan Khadbai.
20 Feb 2020 -
Luminor mandates first Baltic covered bond
Luminor Bank has mandated leads for the first covered bond from the Baltic region.
20 Feb 2020 -
Italian assets fly as Intesa launches shock bid for UBI
Intesa Sanpaolo caught the market by surprise when it launched a takeover bid for UBI Banca on Monday night. The announcement sent credit and equity valuations surging higher, with investors pinning their hopes on consolidation in the Italian banking sector.
18 Feb 2020 -
Transition periods are key in minimising MREL impact, says EBA
Regulators are helping those banks most at risk of failing to meet their minimum requirements for own funds and eligible liabilities (MREL) by giving them extra time to prepare, a report from the European Banking Authority said this week.
18 Feb 2020 -
HSBC plans to slim down rates, derivs, equities in Europe
HSBC’s new strategic plan involves numerous changes to its investment banking division, including shifting resources to Asia and the Middle East, reducing the scale of many operations in the European markets business, and combining product functions with commercial banking.
18 Feb 2020 -
European Commission opens MiFID II consultation
The European Commission has opened a public consultation on MiFIR/MiFID II, as it takes stock of two years of the sweeping regulations.
17 Feb 2020 -
First senior NPL ABS of recent years tempts five new investors
The first fully public syndicated sale of senior ABS backed by Italian non-performing loans in recent years has tempted five new investors to buy into the NPL asset class. Ten buyers were allocated bonds in the landmark deal, Futura 2019.
14 Feb 2020 -
Rose to prune NatWest Markets, take secateurs to rates
Royal Bank of Scotland — or NatWest Group, as it plans to rebrand itself later this year — is set to cut back risk-weighted assets in the investment bank, particularly in rates. The bank also committed to stricter lending and underwriting criteria for fossil fuel companies.
14 Feb 2020
