Issue 1763

Top Stories

Draghi dices with departure, adding more fuel to volatility fire

Saipem underwriters left long with €592m as rights auction falls short

ESG wave to sweep US securitization despite SEC inaction

EU regs implementation to block covered bond market

Not calling AT1 may not be as bad as feared

Leader

EM's familiar dilemma has taken a more sinister turn

Crypto revolution cannot ignore climate risk

Public Sector

US inflation rocket kiboshes SSA dollar primary

EU latest bond issue shows times a-changing

Ukraine war drives up KfW funding need

New issue premiums fall as issuance dries up

Covered Bonds

Spanish Cédulas leapfrog into the top space

Nationwide raises unbeatable funding with sterling covered bond

Berlin Hyp diversifies in Swissies with green Pfandbrief

Deka and KHFC covered bond outings illustrate investor preferences

Financial Institutions

FIG issuance strategies split for autumn window

FIG market readies for sporadic senior supply

Securitization

Trio of pre-placed deals fill European ABS deals pipe

PG&E completes SB 901 programme with $3.9bn RRB ABS

Sculptor Capital hires new CLO structuring head

US CLO spreads stabilise as deal flow ticks up

Pre-placed European ABS deals trickle through market

Corporate Bonds

Pepsi postpones dollar market's inevitable new low

Delayed blow: markets withstand US CPI shock — for now

Celanese breaks euro corporate bond drought

Lamartine finishes job begun in April with €350m bond

Syndicated Loans and Leveraged Finance

Bestsecret aims to address 2023 maturities with €315m HY deal

Canadians lose control of Vue in debt-for-equity swap

BBVA opens water footprint loan product with Iberdrola

Apera increases fund size by 70% for second generation

Axa seeks wealthy investors for private assets with iCapital partnership

Emerging Markets

Fears for more EM pain as 100bp Fed rise speculation grows

Bermuda deal no premonition for EM primary

Naftogaz bonds plummet as issuer asks to defer payments

NLB draws international support for €300m deal

Petrobras clinches first ESG financing

Equity

Saipem underwriters left long with €592m as rights auction falls short

‘Perfect storm’ casts doubt over autumn IPO revival

Nationalisation could force EDF to pay back €2.56bn green CB

Mingyang Smart Energy Group trades up after London GDR listing

Wave of German rights issues raises hopes for European ECM recovery

Market News

Market supervisors move closer to a crypto regulatory framework

SRB report shows most European banks ahead of MREL targets

Data deficiencies hamper climate stress test

Southpaw

KKR sharpens capital markets ambition