Issue 1495

Main

Leader

Brazil is back despite upset markets

Green securitization: an answer to several prayers

Public Sector

News

UK DMO sets lowest target in 10 years amid Brexit warnings

ESM rebounds to €3bn as Draghi sets relaxed tone

Innovative issuers taking next green steps

MuniFin goes long on 35 year MTN

Dollar floaters find favour in MTNs

AfDB joins dollar party but can the fun last?

Bond Comments

AfDB USD2.5bn 1.875% Mar 20

EIB USD3bn 2.375% Jun 22

MuniFin USD1bn 2.375% Mar 22

ESM EUR3bn 0.75% Mar 27

Ile-de-France EUR500m 1.375% Mar 29 green

Italy EUR3bn 1.3% May 28 linker

Covered Bonds

News

Covereds price tight as ECB squeeze gets under way

TD prices wider and in smaller size in sterling covereds

Bond Comments

Financial Institutions

News

All bonds on table as Co-op mulls debt swap, equity raise

Nykredit hits soft market with new-look ‘senior resolution notes’

Deutsche AT1s surge on approval of 2017 coupon payments

Credit Suisse gives Swiss investors rare chance for AT1

FIG issuers take stock as hot market cools before eventful week

BNP Paribas shows TLAC options are open in non-core currencies

Sterling shows ‘relevance’ in surprisingly busy week

Bond Comments

Liberbank EUR300m 6.875% Mar 27 tier two

Nykredit Realkredit EUR500m 0.375% Jun 20 senior resolution notes

Unione di Banche Italiane EUR500m 4.625% Sep 27 tier two

BNP Paribas USD1.25bn 4.625% Mar 27 tier two

HSBC USD2.5bn 3.262% Mar 23, USD2.5bn 4.041% Mar 28

Securitization

Lending Club chief says market will thrive in 2017, signals more ABS

CréditAg's $3bn capital deal starts green ABS race

Asset Backed Securities

News

For funds shorting CMBS, retailers’ turnaround plans are key

Residential MBS

Structured Credit

Derivatives

NEX Group heralds regulatory reporting platform

Corporate Bonds

News

Roche returns for a further Matterhorn ascent

Volkswagen eyes public bond return after Schuldschein success

Bonds Comments

Motability Operations Group EUR500m 0.875% Mar 25 and GBP350m 2.375% Mar 32

Thermo Fisher Scientific EUR500m 1.45% Mar 27

The Priceline Group EUR1bn 0.8% Mar 22

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Novomatic cashes out with RCF

EIB shores up Polish curve with zloty tap

Leveraged finance loans

Levloan repricing car rolls further downhill

Cerba ratchets in pricing for LBO

Funeral group OGF to pay divi with €960m loan as OTPP ups stake

Advent adds div recap to Allnex repricing

Styrolution prints ‘exceptional’ double-B loan under 300bp

Verisure launches €350m loan refi

Alcentra takes direct lending capital to €5.7bn with new fundraise

Emerging market loans

Mid Europa cuts pricing on Profi loan as demand swells

Credit Bank of Moscow to launch syndication

Vakifbank initiates refi syndication

Emerging Markets

News

Qatar Re bags $6.5bn book for first ever Gulf insurance hybrid

GCC demand swells books for Warba Bank’s AT1 sukuk

Azerbaijan's Southern Gas navigates choppy rates to raise extra $1bn

PTA Bank bags $2.2bn book for five year dollar return

Croatia revives Eurobond after political turmoil

Gazprom, Evraz add dollars to swelling Russia pipe

Turkish tier two comes of age as Akbank takes $2bn book for T2

Akbank USD500m 7.2% Mar 27 Tier two

Belize nears restructuring agreement after amendments

CAF skips into largest ever Kangaroo bond

Nemak comes up trumps in Mexico’s third euro outing

Brazilians battle through pre-Fed jitters as rates fears hit

Bond Comments

Warba Bank USD250m 6.5% perpetual NC5 AT1 sukuk

Eastern and Southern African Trade and Development Bank (PTA Bank) USD500m 5.5% March 2022

Qatar Re USD450m 4.95% perpetual NC5.5

Southern Gas Corridor USD1bn 7% March 26 tap

League Table

Equity

EMEA IPO pipeline grows as five more names come to market

Seven companies test IPO market as French, Dutch elections cast shadows

Avantium IPO covered on day three

Credit Suisse leads Cryan's €8bn turnround rights for Deutsche

RB Platinum digs up R1.2bn with debut CB

RAG-Stiftung returns with third Evonik exchangeable

Citi, HSBC and SG sell EDF rights France does not want in block trade

Ascential gains 1.4% after clean-up as Folksam sells Swedbank at tight discount

Deutsche EuroShop gets €165m to buy Czech shopping centre

Market News

People Moves

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Euroblog

MTN Leak

MTN Leak: the chamber of secrets

Loans Ranger

Tuesday view

How to revive European HY: let’s think small to grow bigger

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons