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• SEB gets tight covered pricing in tired mart
• Deutsche Hypo scrapes over Pfandbrief finishing line

Leader

• The strong and stable eurozone

Public Sector

News

• Floaters to benefit from hawkish Fed
• Rare issuers make most of excellent pre-summer conditions
• BoE split provokes Gilts wobble
• Mnuchin capital curb sets up dollar duration for SSAs

Bond Comments

• CPPIB Capital EUR2bn 0.375% Jun 24
• BNG EUR1bn 0.625% Jun 27
• KBN USD1bn 1.75% Sep 20
• CDP EUR1bn 1.5% Jun 24

Covered Bonds

News

• Kommunalkredit plans first public sector social covered
• Covered supply hopes improve ahead of half year end
• LBP wins strong covered bond reception

Financial Institutions

News

• AIG hits euro market after sitting out ‘challenging week’
• UniCredit eyes dollars for T2 return after Popular writedown
• Popular issues ‘siloed’ as Deutsche Pbb eyes first T2
• Popular writedown prompts sub debt rethink
• FIG supply lull to open doors for non-EU financials
• Lloyds aims to shift up to 20% of its opco debt
• Low supply puts investors in ‘Mexican stand-off’ over Brexit

Bond Comments

• Lloyds Banking Group EUR1bn Jun 24 FRN
• AIG EUR1bn 1.875% Jun 27
• UniCredit USD1bn 5.861% Jun 32 tier two

Securitization

Asset Backed Securities

• Welk returns to timeshare ABS market
• Landmark deals, SoFi bank charter generate buzz in MPL
• Three auto deals hit market following Global ABS

Derivatives

• BME Clearing expands into Latin America with a Colombian deal
• SGX rolls out total return futures for Asia
• ISDA rules supreme as Dexia wins again in Prato swaps case
• EC lays out plan to control euro clearing

Corporate Bonds

• AT&T shows sterling unaffected by UK government uncertainty
• Sub-benchmarks shine in IG market
• Foncière des Régions attracts the discerning 10 year investors

News

• TenneT green bond attracts quality bid
• Investors gobble up green Apple
• MSC cruises through records with unrated Swissie

High yield

News

• Signs of issuers stirring to high yield charms
• UPC doubles up on dozen year deals in euro HY market
• Ocado delivers fresh debut
• HY investors salute Italian railway operator debut
• Intrum Justitia unveils €3bn HY extravaganza
• Gambling firms set to punt on levloans

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

• Arrangers ease off as busy Schuldschein eyes records

Emerging market loans

• Ramadan delays loan deals in Middle East
• Vitol borrows $700m for Petrol Ofisi acquisition

Emerging Markets

News

• Vimpelcom prices $1.5bn to fund identity transition
• Yapi Kredi adds to busiest year for Turkish FI since 2014
• Multi-faceted appeal boosts Globalworth
• Belarus back for dollars as it bids to find support to fund weak economy
• Yapi Kredi $500m 5.85% Jun 24
• Chile looks to pesos after euro, dollar deals
• Uruguay trades up after first step to local yield curve
• Lat Am borrowers cash in as investors feel weight of liquidity

Bond Comments

• Afreximbank USD750m 4.125% Jun 24

Equity

• Mavi Jeans gains 3.5% after TL744m Turkish IPO
• AIB IPO covered, valuation could be €13.3bn
• Sibanye Gold’s $1bn rights issue multiple times covered
• DoBank, Residential Secure Income to IPO
• NLFI’s third ASR Nederland block covered in half an hour
• BNP Paribas, Société Générale sell 6.3% of Euronext
• ALD achieves €5.8bn valuation as IPO attracts 150 investors
• Symrise, Orpar, Astaldi ride wave of equity-linked demand
• First Wizz Air block clears at 4.3% below the close

Market News

• Trump stance throws doubt on TCFD hopes
• EU green finance group considering reg cap cuts
• Ecofin hopes to end ‘urgent’ work on creditor hierarchies
• GBP set new Social Bond Principles, guide brown issuers

People Moves

• People Moves In Brief — June 15, 2017
• TD adds euro SSA and covered bond trading — primary push to follow?

Columns

Southpaw

• Citi ups the ante in Europe

MTN Leak

• MTN Leak: A Peruvian fiesta

Tuesday view

• UK doesn’t have a clue on Brexit