Issue 1767

Top Stories

Investors grant Ukraine debt relief but brace for painful restructuring

European ABS faces up to recession fears

Dry Rhine adds a new element to corporates' litany of catastrophes

SSA market braces for early restart

Leader

Summer deals are too risky for most corporate borrowers

CLOs' Covid resilience will count for little in upcoming recession

Public Sector

Optimism rises in dollar SSA market after lower US CPI number

ADB navigates summer lull to net £350m

AIIB new floater breathes life into SSA dollar market

BTP-Bund spread holds as Moody's axes Italy outlook

Covered Bonds

Covered bond pipeline fills for next week

CBA goes big in Swissies with dual tranche covered bond

Covered bond taps restart Nordic markets

High grade FIG pair reopen Swissie market

Financial Institutions

FIG issuers eye home turf after blockbuster Yankee August

Local pair score Nokkie sub debt brace

DNB sterling SNP debut brings pricing advantage versus dollar market

Nationwide and DZ lead Swissie diversification charge

BNP Paribas opts for AT1 in 'wide open' US market

Securitization

LatAm NPLs attracting US and European interest

Davidson Kempner notches largest UK RMBS of 2022

Neuberger Berman hires MD to lead European securitization fintech push

European reporting requirements 'onerous' for new issuers

Corporate Bonds

Volvo’s engines roar in summer blow-out

September set for blast-off as money heads to IG funds

Veolia set for sharp deleveraging on €2.4bn Suez UK sale

Jobs at risk as corporate volumes plunge

Syndicated Loans and Leveraged Finance

Bain Capital Credit makes special sits hire

Market voices concerns on ISSB sustainable accounting proposals

Swell in term loan 'A' issuance shows banks' willingness to finance deals

Emerging Markets

Investors grant Ukraine debt relief but brace for painful restructuring

Sovereign debt restructuring — Lee Buchheit on Ukraine and intercreditor equity

Asia and US end clients pressure EM bond investors on ESG

Ecuador’s clumsiness over Perenco payments is not harmless

Equity

Coats Group stitches up £92m ABB to fund acquisition

Two Europe-listed companies price ABBs in US after share price surge

Rising interest rates may force real estate companies back to ECM

GIB launches first EM active engagement fund

US airlines should think twice before restarting buy-back programmes

Market News

The week in review: China streamlines green bond principles

People Moves

Senior EM debt banker leaves DB

JP Morgan shuffles UK investment grade leadership

SMBC hires chief credit risk officer for US and LatAm

Southpaw

Nomura eyes M&A with 'Step Change' in investment banking