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Despite a fast start in January, with deals printing ever tighter, 2022 ended up being a tough slog for the European securitization market. Looking to the year ahead, there is a feeling of cautious optimism among market participants. By Tom Lemmon.

Companies will look at convertibles again as higher borrowing costs put pressure on balance sheets and the equity market stabilises. Aidan Gregory reports.

A strong post-pandemic recovery in 2021 meant that predictions for the equity IPO market in 2022 were hopeful. But the Ukraine war, inflation and economic downturn blew away all that optimism. Victoria Thiele reports on how the IPO market has responded and what to expect next. Accompanying data is from a survey of equity market participants undertaken in October and early November.

While market buoyancy may seem like a boom, sources say increased activity is here to stay as the oil rich economies of Saudi Arabia and United Arab Emirates continue to build out their economies and attract foreign capital. John Crabb and Aidan Gregory report on what to expect in the months and years ahead.

— Will the easing of China's Covid rules help or harm emerging market issuers? — How public sector issuers compete with a jumbo, and growing, borrower like the EU — Private credit’s late bloom

Merger with Leaseplan will increase funding needs, bring higher rating

Smaller banks shouldn’t be afraid of extending AT1s past the first call date if the refinancing costs don’t make sense

Spacs are not dead; they're resting

Emerging market bond issuers have been finding ever more creative ways to secure funding, issuing taps and private placements in recent weeks. It has been a remarkable feat in some instances but borrowers must be careful not to overuse these tricks

— Hungary, its investors and their ESG worries — The digital bond markets take a step forward — Aroundtown drama fails to cool hot hybrid market

Details of how SLBs will perform are cloudy, but their main effect is bright

Bond markets are buoyed but there’s no time for complacency