Issue 1508

Main

Leader

The BRRD has teeth

Public Sector

News

NRW.Bank doubles up with dollar floater ahead of Fed

Gilt yields, sterling deals await UK election result

Italy enjoys searing demand as investors ignore election fear

Bond Comments

FADE EUR1bn 0.031% Jun 20

Bpifrance EUR1bn 0% Nov 22

EAA EUR1bn 0% Jun 20

ESM EUR1.5bn 1.8% Nov 46 tap

Italy EUR6.5bn 3.45% Mar 48

Ontario EUR1.5bn 0.375% Jun 24

Covered Bonds

News

Berlin Hyp finds new names for second green Pfandbrief

Finland's Hypo and BNZ join the covered pipe

Bond Comments

Financial Institutions

News

Regulators draw ‘big line’ between senior and capital

AT1 market weathers first ever write-down

Strategic trades in focus as banks rattle through MREL plans

Sumitomo targets euros in TLAC sprint

Popular is resolved as BRRD draws first blood

Popular resolution puts T2 in 'grey area'

US banks pull back from TLAC onslaught

Bond Comments

Sumitomo Mitsui Financial Group EUR750m Jun 22 FRN / EUR500m 1.413% Jun 27

Securitization

Asset Backed Securities

News

Residential MBS

Structured Credit

Derivatives

Banco Popular rescue poses CDS conundrum

Clearing experts clash on CCP recovery and resolution

The EU should not relocate euro clearing

French regulator snubs US model for clearing of euro products

No delay for MiFID II, says Maijoor

CFTC bans spoofing Singapore trader

European derivative exchanges beat US

Corporate Bonds

News

Mandates stack up as corporates take breather

AT&T gets Time Warner bond funding under way

US corporates steam in ahead of ‘triple threat’ Thursday

Ecofin council to launch ‘concerted’ work on NPLs

Bonds Comments

AT&T EUR1.25bn Euribor+85 Sept 24, EUR750m 1.05% Sept 23, EUR1.75bn 1.8% Sept 26, EUR1.5bn 2.35% Sept 29, EUR1.75% 3.15% Sept 36

Louis Dreyfus USD300m 5.25% Sept 23

Volkswagen EUR1.25bn 2.7% Sept 22, EUR2bn 3.875% June 27

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Schuldschein taps ground with B. Braun hit

Fresenius looks for refi after Moody’s upgrade

Leveraged finance loans

Emerging market loans

Revealed: Oman's loan shopping list

ICBC fuels loan hunger with $1.25bn facility

Afreximbank signs its largest syndicated loan at $1.2bn

Banks in the dark about Qatar with predictions mixed

Agrokor gets new €400m loan but Sberbank fights it

Emerging Markets

News

Rising Qatar crisis highlights vulnerability of GCC market

Africa pipe swells as Nigeria, Sibanye, Afrexim line up

Strong book sees Turkey forgiven, but Qatar takes toll on pricing

Gulf crisis rattles capital markets but extent of damage uncertain

Investors euro-phoric as Côte d’Ivoire pays to open new market

Argentina to opt for euros to complete external funding

Uruguay preps global pesos in quiet Lat Am

Desperate Venezuela defaults to Russia amid bond fire sale

Bond Comments

League Table

Equity

Credit Suisse wins 99% take-up for Sfr4bn 2-for-11 rights issue

Santander prepares €7bn rights issue to recap Banco Popular

Kinnevik bails out of Rocket via €218m clean-up block

Bayer offloads €2bn of Covestro via block, CB

Société Générale’s ALD aims for €6.3bn initial valuation

Delivery Hero enters busy European IPO fray

Second ConvaTec increased to £805m after robust demand

Market News

French regulator calls for single European authority

People Moves

Osborne follows Dean out of Barclays

People Moves In Brief, June 8, 2017

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

UK competition hots up but Brexit, election hits deals

Euroblog

MTN Leak

MTN Leak: Tales from Don Smit-xote

Loans Ranger

Tuesday view

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons