Issue 1776

Top Stories

Desperate times call for desperate maturities in covered bond market

‘Pure frustration’ over Europe's securitization review

Fees squeeze feared in ECM as banks fight over scraps

Refi risk bubbles in corporate bond market

Leader

Brighter days aren’t coming for corporates

Time for unconventional thinking in the covered bond market

GC Podcast

Dark days ahead in corporate bonds and scares aplenty in UK markets

Public Sector

Switzerland’s green debut attracts big demand

UPDATE: EU and Germany test long dated demand

French agencies struggle to tighten green deals

Fitch cuts Austria rating outlook over energy supply risks

MuniFin deals MTN spree

Covered Bonds

Covered bond market trembles after Banque de France no-show

Four covered bond issuers take advantage of wider Bund swap spread

LBP excels with sizeable funding in challenging covered bond tenor

Raising Rates: dealers hit in size for EU 20 year paper

Caffil covered deal runs into muted demand

Financial Institutions

OP returns for second helping of senior debt

CBA eyes domestic market AT1

Get a move on, crypto regulators

Securitization

Pressure rising on German SME ABS, says Moody’s

Rising yields tipped to tempt US CLO buyers as spreads widen

Pulled French deal leaves ABS eyes on VW, Finance Ireland

Student loan ABS faces lower volumes, credit challenges

Irish RMBS priced but retained deals return

Corporate Bonds

European IG corporate bond yields hit decade high

Companies get locked out of sterling but euro contagion risks fall

Vattenfall lands three hits on short end of curve

Veolia Environnement to buy back £650m 2037s

Corporate bond market braces for earnings

Syndicated Loans and Leveraged Finance

Sparkassen lose appetite for Schuldschein feast

Schuldschein races for record volume before appetite dries up

Axpo expands financing portfolio to €5.3bn

Pantheon grows European and US private wealth teams

Emerging Markets

Slovakia pays 25bp concession for €1bn

TGI to buy back $135m of 2028s via tender

Moody’s cuts Bahamas on tighter funding conditions

Equity

MPS recap begins after underwriting negotiations conclude

Harmony Energy Income Trust raises fraction of maximum deal size

UK IPO market shows no signs of recovery

Vol spike and earnings season shutters convertible market again

The UK property sector was the last hope, but they demolished that too

People Moves

Pantheon grows European and US private wealth teams

BNP Paribas adds senior trader to EU equities team

Southpaw

No easy options as D-Day looms for CS bankers