Issues
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Nikolov promoted from co-head to head -
◆ Investors find tier two FIG debt appealing ◆ Simultaneous execution helped by supply and demand mismatch, ECB rate cut expectations ◆ Both deals land flat to FV with multiple times coverage ratios
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Most activity has been refinancings with little change in terms
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◆ Do investors want unified capital markets coverage? ◆ Corporates fear democracy ◆ Why are FRNs trending? ◆ Second lien mortgages in arrears ― yes please
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Sovereign pays minimal concession to raise $1.3bn after rally
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Tuesday’s record and UK blocks party sets stage for IPOs, but companies to list are lacking
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Strong demand helps market overcome rates volatility
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Banks that succeed will offer clients a joined-up service
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Firms eager to refinance RCFs while banks remain welcoming
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Investors have swarmed to FIG FRNs despite looming interest rate cuts
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Rates backdrop causing greater order book attrition in dollars as spreads grind tighter in euros
