Issue 1775

Top Stories

Issuers delve into box of tricks to keep market access

PIF wins status with $3bn debut but doubts linger over green cred

Appetite for duration: FIG investors push out along the curve

Credit Suisse debacle reignites debate over US oversight of foreign banks

Bonds tied to banks’ SLL pools could spread in 2023

Leader

The UK had the policies to grow the City all along

PIF pizzazz shows century bonds are as powerful as ever

Public Sector

Austria’s plan to bring sovereign green debt to money markets

EIB prices €1bn tap flat to curve

Madrid braves turbulent market for Taxonomy-aligned green bond

UPDATE: EFSF wraps up year’s funding with ‘solid outcome’

Estonia bags €1bn after serving up rare bond

Gilts, sterling gain after UK policy flip-flop

Switzerland seeks green centre kudos and greenium with debut bond

Auckland debuts green Swissie amid market volatility

Covered Bonds

Commerzbank feels the subdued mood with fourth Pfandbrief of the year

CRH issues its biggest covered bond in a decade

DBS gets best covered bond result of day in tough market

Raising Rates: investors unnerved as EU curve steepens into supply

Financial Institutions

Intesa pays a premium for social preferred paper

Euroclear senior bond sails with ease at tight price

Four major FIG issuers supply €3.9bn senior bonds

Jyske bites the bullet to shore up MREL funding

Nordea thinks new SLL bonds can grow bigger than its green bonds

Société Générale fails to tighten Swiss franc senior bond

EU banks face liquidity mismatches in foreign currencies

Securitization

ABS to pick up pace despite spread volatility

Nuveen Green Capital on the compelling case for ESG in securitization

Westlake widens as auto ABS volumes slow

Fleet Mortgages braves sterling volatility to reopen UK RMBS

Corporate Bonds

Sterling corporate bond market unimpressed by UK U-turn

EDP’s double digit NIP gets investors buzzing

Delay pays as Smith & Nephew euro debut gets warm response

EDF raises €3bn as state ownership looms

Investment grade corporates pile on before next lockout

Syndicated Loans and Leveraged Finance

Housing associations hit by Gilt chaos but rent is the big issue

Hipgnosis cuts 100bp from margin with new $700m RCF

Cocobod signs $1.1bn loan for upcoming cocoa purchases

Strategic Value Partners exits Vallourec after stock rebounds

AnaCap carves out €2bn credit business as Veld Capital

Emerging Markets

FAB seals green dollar debut at same level as PIF

LatAm looks beyond IMF meetings after Philippines, PIF successes

České dráhy pays triple-digit concession for long-awaited green debut

Arcor launches above par exchange

Equity

Porsche IPO boosts US banks up EMEA league table

Former Rusal chief launches mining Spac, surprising markets

Arabian Drilling to price IPO at top of range

Strategic Value Partners exits Vallourec after stock rebounds

Marafiq seeks Tadawul listing

Market News

Liquidity and capital count for something, even at Credit Suisse

A rough week for Credit Suisse but a bigger test is to come

Credit Suisse struggles to rid itself of whiff of 2008

Citi DCM changes meant to strengthen HY, ESG origination

People Moves

Citi reshuffles DCM, makes hires

Koerkemeier made permanent head of capital markets at ING

Barclays shuffles EMEA IB team

Frankel steps into top job at ESM on interim basis

Southpaw

SG springs surprise with Krupa appointment