Issue 1757

Cover Stories

Russia triggers failure to pay event after missed interest payment

Europe’s periphery braced for inflation shock

KPIs vs ratings: direct lenders weigh up pros and cons for ESG-linked financings

Phones, huts and plumbers: the new definition of infrastructure

EM investors spy temptations amid spicy valuations

Leader

Key people: BNY’s lost value on the Alcentra sale

Green glosses over liquidity problem

Public Sector

German green paints over duration jitters

KommuneKredit and Andalusia prove market for small trades

Saskatchewan pushes on as EAA pulls out

ADB goes for size at 15 years

Bond Comments

Covered Bonds

RBC returns to dollar covered bonds as Westpac pays up

UniCredit Bank chooses five years for safest covered bond execution

Spreads get ‘soggy’ as eurozone inflation woes mount

Covered bond issuers compete for attention

Danish Ships Finance postpones covered bond

Financial Institutions

Eurobank surprises with largest Greek senior deal in a decade

Julius Baer finds ‘depth and breadth’ in dollars for $400m AT1

Three is the magic tenor as Yankee bank issuers roar back

Lloyds hops back on Kangaroo trail

Yield chase returns to FIG as capital deals find bid

SBAB lifts €750m in its largest senior outing in seven years

Erste ‘does the right thing’ printing €500m tier two

SEB wins $5bn blowout demand as it restarts European AT1

Bond Comments

Securitization

2022 European ABS issuance volumes expected to be revised down

Corporate Bonds

Encouraging market gives smooth and rough rides to varied corporates

Volkswagen revs up dollar bond market

High Yield

Syndicated Loans and Leveraged Finance

Direct lenders focus on German mid-market

Franklin Templeton agrees to pay up to $1bn for Alcentra

Emerging Markets

Creditors grant Petroperu default-dodging waiver

Arada debut reveals little of wider appetite for Middle East

Saudi's thriving IPO market draws in foreign funds

Borouge pulls in whopping $82bn of demand for Abu Dhabi IPO

EM bond issuers should stay suspicious of secondary levels

Equity

Block the calendar: share sales expected to pick up — if the price is right

Market News

FCA’s plan to ease listing rules is gormless

People Moves

Redding Ridge recruits Citi CLO director

KfW picks new head of funding

CACIB reshuffles corporate and levfin leadership

Southpaw

The runners and riders to replace Oudéa at SocGen