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Financial markets had a good laugh when the ECB press conference was interrupted by protester Josephine Witt dumping confetti on Mario Draghi. This turned to puzzlement when she released what appeared to be a poem, describing herself as a butterfly. But she has a point.

The European Financial Stability Facility may not have to print oversubscribed benchmarks just to show that the eurozone isn’t falling apart any more, but it still has to step up on occasion.

Kaisa Group Holdings became the first Chinese property company to default on its offshore debt when it announced on Monday that it had failed to pay $51.6m of coupons on two of its outstanding dollar bonds. The news barely made an impact on secondary prices, as the default had been well flagged, but markets should not relax yet. Kaisa may not be an isolated case.

There are plenty of reasons to commend German legislators’ attempts to subordinate senior debt to other operating liabilities, but other lawmakers shouldn’t rush to follow their example.

Goldman Sachs reported quarterly results last week that were, by any measure, stellar. But some of the numbers look a little bit too special.

Loan Ranger was thrilled at the prospect of his impending trip to South Africa, until a leveraged loan banker gave him pause with a cautionary tale…

Loan Ranger was thrilled at the prospect of his impending trip to South Africa, until a leveraged loan banker gave him pause with a cautionary tale…

Corporación Andina de Fomento took advantage of a lack of SSA supply in the Swiss market to take a Sfr150m ($156m) tap of its February 2026s this week.

Banks are increasingly looking to funding sponsor driven activity in India as interest wanes in state owned companies’ thinly priced deals. India is ripe with high growth targets in the tech, retail, manufacturing, financial services and infrastructure sectors that throw up plenty of opportunities for foreign banks, writes Shruti Chaturvedi.

Bankers are not known to be discreet. We are rich, we are smart, and we are not afraid to show it.

Korean credits were mostly missing from the international bond market in the first quarter of this year, with only a handful of deals from what is usually a busy issuer group. But bond sales from the country look set to stay quiet for even longer as the government launches an investigation into corruption at state owned energy companies, writes Narae Kim.

GlobalCapital is delighted to announce the nominees for its 2015 US Derivatives Awards. Nominations are based upon the cross-market poll conducted in recent weeks. Winners will be announced at a gala dinner in New York on May 28.