Issue 1730

Cover Stories

'2021 is dead to me': sentiment sours in SSA and EM as rate rises loom

Credit faces gathering storm but Thursday flourish gives hope

US securitization market makes last push away from Libor with legacy legislation

Overview — Covid and the capital markets: Capital markets pros embrace flexible working

Overview — Covid and the capital markets: Why business travel will not return to pre-pandemic levels

Leader

Bond banks will earn their fees as bull run comes to an end

Advantage covered bonds after senior shakedown

Public Sector

Switzerland plans to issue debut green bond in 2023

Kreivi to step down as EIB capital markets chief

Rumours of the death of the primary dealership model are exaggerated

Bond Comments

BNG EUR1.5bn 0.25% Nov 36 social bond

Covered Bonds

The CPT's days are numbered

Westpac ends almost two year absence from US dollar covereds

CBPP3 buying set to rise alongside record redemptions in 2022

Danske taps demand for relative value with covered five year

Curve steepeners favoured in nervous rates market

Financial Institutions

Metro bonds tumble as Carlyle withdraws from takeover

Banorte opts for dual-tranche on AT1 return

Commerzbank doubles back for defensive FRN

Deutsche adds to AT1 deal flurry

Allianz proves popular with triple tranche trade

Bond Comments

Securitization

Fitch downgrades Air Lease ABS amid patchy US aviation recovery

Italian auto ABS joins pipe as initial pricing released on RMBS

Eagle Point rewards investors with special distribution

Corporate Bonds

IG corporates hit primary market reeling from rough week

Naturgy runs into investor malaise as bankers fret about deal fatigue

BT braves dollars with hybrid debut as Drahi looms

Oil and gas companies exploit long end amid optimism on transition

IG corps find investors’ pulse in day for big orders

High Yield

Syndicated Loans and Leveraged Finance

Waste-from-energy companies size up private debt for £3bn

Emerging Markets

Canacol lowers funding cost with $500m seven year

Gabon pulls own curve wider as EM sentiment wavers

Hopes rise of gender bond growth, Colombia keen to issue

JBS jumps on earnings momentum to notch $2bn

Uruguay mandates for Samurai

Equity

Altarea shareholders backstop €350m M&A rights issue

Raging equity bull market masks poor blocks performance

Encavis issues new convertible hybrid to spark equity-linked market

EMEA top of the pops

Market News

French boutique to EM issuers: Don’t settle for wide pricing

People Moves

NordLB appoints head of sustainable bond origination

LedgerEdge hires former corporate bond trader for US push

NatWest's head of corporate and public sector DCM for DACH departs

JP Morgan hires DACH ECM banker from Goldman

BNPP nabs levfin director from Barclays

ABN Amro plucks DCM director from BayernLB

ING’s global head of sustainable finance leaves bank

Southpaw

Fee bonanza from private equity boom masks shifting dynamics