Issue 1765

Top Stories

Companies will have to grasp hybrid refinancing nettle in September

SSA issuers ready to take any opportunity as uncertainty grows

European banks to step up capital funding arb in Singapore

SEC’s Spac proposals kill EMEA market

Investors cautious as direct lenders prop up levfin market

Germans call for capital increase reforms as discount cap wipes out market

Leader

The double-edged sword of state ownership

England beats Germany in rights issue reform race

Public Sector

SSAs move on fast from Fed as recession fears grow

BTP-Bund spread rockets on S&P outlook downgrade

NRW.Bank goes big and green with €1bn print

Land Berlin seals popular €500m bond issue

SEK braves dollar market for $800m floater

IADB makes quick return to sterling

Covered Bonds

NordLB builds €2bn book as covered bond market flares up

ECB covered bond buying declines as CBPP1 matures

Financial Institutions

Credit Suisse and Rabobank plan Singapore dollar capital bonds

TD banks €2.25bn with dual tranche senior deal

Nordic banks face sub debt shortfalls

European pair visit Aussie dollar ahead of RBA meeting

NAB nabs Aussie dollar tier two

Tory leader hopefuls should temper EU reg talk

Securitization

Credit Suisse seeks third-party investors for securitization business

September European ABS restart far from certain, say analysts

The US ABS market is confident… but must be careful

SFVegas: QT making high-quality ABS more appealing

Corporate Bonds

SSE reaps reward for bold timing with blowout bond

US corp bonds spring back after Fed with GM green bond

Annington heads for bond amid dispute with government

Syndicated Loans and Leveraged Finance

Three quarters of high net worth investors allocate to alternatives, survey finds

BlackRock raises £1.7bn from UK pension funds for private debt

Ares pre-markets jumbo fund following fast deployment

Emerging Markets

Ukraine eyes August 11 for debt relief deal

Emerging markets fear volatility could increase as Fed reduces forward guidance

Ukraine issuer pair follow sovereign's debt relief path

Paraguay edges closer to first IG rating

Russia CDS auction deliverables uncertain

Equity

Green issuers gain traction as Voltalia reignites convertible issuance

SFC Energy raises €56m amid wave of German rights issues

TAG rights issue attracts support despite sector selloff

Fugro strengthens capital structure with €116m share sale

People Moves

Citi confirms co-head of EMEA loans and levfin

Deutsche Bank restructures banking leadership

Tsiantas joins Crédit Ag FIG syndicate

Southpaw

Turning a Körner: Credit Suisse’s IB faces crunch time