Issue 1545

Main

PBB takes fives in size

Sprint to issue spectrum bond offering

Leader

Schuldschein’s best interests are secondary

Public Sector

News

Alberta opens up dollar 10s but fives expected to rule supply

UK MBA takes step to debut bond amid calls for sub-sov deals

EIB issues first benchmark floater in zloty

Land NRW breaks size record with sustainability bond

Tough euro market faces down risks

Bond Comments

KommuneKredit EUR1bn 0.25% May 23

OeKB USD1.5bn 2.875% Mar 23

Land NRW EUR2.025bn 0.95% Mar 28 sustainability bond

EIB EUR5bn 0.875% Jan 28

Finnvera EUR1bn 1.25% Jul 33

SEK USD1.25bn 2.875% Mar 23

Covered Bonds

News

Vakif places €800m covereds, others seen

Bank of Ireland covereds enjoy rarity appeal

TD goes large in euro covereds at record spread

Bond Comments

Financial Institutions

News

Yorkshire BS offers senior for ‘unsettled times’

NBC and Commerz navigate sevens in tricky market

Hiscox brings rare senior deal in ‘cheap’ sterling market

Credit Suisse eyes renewable energy with debut green trade

Premiums rise in FIG as macro jitters make investors choosy

Small is beautiful for new Belfius tier two

Insurers eye up RT1 as Scor leads the way

Bond Comments

Bank of Montreal EUR500m Mar 22 senior FRN

Crédit Agricole EUR1bn 1.375% Mar 2025 non-preferred senior

SEB EUR1bn 0.5% Mar 23 senior

Sparebank 1 Østlandet EUR500m 0.875% Mar 23 senior

Scor USD625m 5.25% PNC11 RT1

Securitization

Vegas trip pays off for Santander’s Holmes

Asset Backed Securities

News

NYSERDA debuts resi solar loan ABS

Leverage on the rise in bullish US CMBS, but property values a growing concern

Investor demand for exotic CLOs spurs new structures

Progress in Women in Securitization, but too much marketing and a missed opportunity

Residential MBS

RMAC fight goes down to the wire as Clifden tips hand

Structured Credit

Derivatives

Index provider Limeyard partners with Vienna Stock Exchange

Futures and options boom in February as vol returns

Euroclear to shift holding company to Belgium

Italy election result calms market, but worries remain

Regulators close in on cryptocurrency spot market

Corporate Bonds

News

Big pharma: CVS sells major debt dose as bankers pin hopes on M&A

Maersk finally returns after ratings cut

SAP exploits rarity value for tight triple-trancher

Sterling investors offered variety from rare names

Prologis sells first green bond from logistics Reit

Gecina adds to 2018’s property rush with its first deal of the year

Bonds Comments

ChemChina USD1bn 4.125% Mar 2021, EUR1.2bn Jun 2022, USD1.3bn Mar 2023, USD800m Mar 2025, USD1.75bn Mar 2028, USD100m Mar 2048

SAP EUR500m 3mE+15 Mar 2021, EUR500m Mar 2026, EUR500m Mar 2030

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Broadcom mega $100bn loan under threat as CFIUS issues warning

Axa gets XL bridge loan for acquisition

UK's BBA Aviation plans to land refi early

GVC opens £1.9bn for Ladbrokes buyout

Hammerson hacks Intu short term debt cost

Technopolis swaps bilateral for syndication

Tech platforms nip at heels of Euro PP market

Secondary SSD platforms spy opportunities in Steinhoff’s wake

Nordics in vogue as Wihuri launches Schuldschein

Portsmouth Uni debuts in PP market

Leveraged finance loans

Lev loan investors fancy biggies, HY tougher

Emerging market loans

Saudi Arabia increases loan to $16bn as demand swells

Russian Copper Co signs $250m refinancing

Standard Bank Kenya launches $100m loan

Emerging Markets

News

CEEMEA YTD issuance at record breaking level

Senegal prints tightest African dollar 30 year

Sharjah scores $1bn with zero NIP, eyes more regular bonds

Gazprom returns to euros, roadshows with five banks

Paraguay gets slim premium to reopen Lat Am

Brazil’s Unigel leads Lat Am corporate pipeline

Bond Comments

Republic of Senegal EUR1bn 4.75% Mar 28, USD1bn 6.75% Mar 48

League Table

Equity

John Laing to raise £210m to fund US and Asian pipeline

Eurazeo exits Accor in quiet week for blocks

Energean opens the books on Mediterranean energy IPO

HNA's Gategroup prepares SIX Swiss Exchange comeback

Siemens Health covered on first day as gentle range works

BioPharma Credit to raise $300m to fund more investment

Italian equity markets await clarity after election drama

Market News

Reyl joins the dots between wealth management and securitization

Piraeus Bank pioneers sale of secured NPLs

EU green finance plan: what’s going to happen

People Moves

New role for BAML's Coben as capital markets vice-chair

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Activism wave could redefine investment banking relationships

Euroblog

MTN Leak

Loans Ranger

Tuesday view

The Lebara crisis can still kill the Northern European bond market dream

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons