Issue 1547

Main

Retail rout fails to dent lev loans, CMBS

NYSERDA pivots to ABS after Trump scraps energy bond scheme

Lloyds smooths TFS refinancing with Penarth

Juicy yields draw global buyers to Latitude card deal

Equipment financiers warn against late cycle complacency

Mediobanca goes back to the Futuro with Quarzo ABS

Prosper brings deeper capital stack with latest ABS

Leader

It had to be EU: no roads lead to Rome for Italian banks

Bankless capital raising? Don’t bet on it

Public Sector

News

Social inclusion bond prints in clear field

Structured notes arrive on blockchain

Investors rebel against super-tight dollar levels but bankers relaxed

BoE ‘hints at hike’, Gilt curve extension calls

Bond Comments

CEB EUR500m 0.375% Mar 25 social inclusion bond

KBN USD1.25bn 2.5% Apr 20

Covered Bonds

Market agog: has ECB started tapering covered purchases?

News

BNS returns in euros to price cheap to covered curve

Lloyds funds cheaply in sterling for third covered return

Covered investors reject tight spreads as ECB cuts

Bond Comments

Financial Institutions

News

First Irish sub senior receives blow-out demand

Green bonds are a catalyst for wider action, say issuers

Santander UK targets FRN buyers in widening market

Confident Carige sets up sub return amid scorn

AT1 market enjoys mammoth deal as minnow lines up

Axa brings out tier two ‘bonanza’ after XL deal

Bond Comments

Santander UK Group EUR750m 3mE+85bp Mar 24 senior

Securitization

Asset Backed Securities

News

Residential MBS

Structured Credit

Derivatives

Investors rush to reposition against terrible trio

FIA calls for an end to 'duplicative' derivatives reporting

ESMA sheds light on 'package' rules

BoE’s Carney: cryptocurrencies are not a threat, for now

US committee approves SLR relief

Corporate Bonds

News

Investors put brakes on GM dual-trancher

Iberdrola forced to sell second green hybrid at bargain yield

DNA evolves debt profile with tender and new issue

Credit markets run out of gas as big Q1 ends

Investors cheer AB InBev’s $10bn dollar binge

Danone joins social club and achieves tight pricing

Bonds Comments

Iberdrola EUR700m 2.625% Perp NC 6 year

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

High grade names bet on evergreen loan conditions

Cigna jumbo loan just a drop in the ocean

Phoenix’s acquisition debt to be blend of revolver and term

Helaba makes bold pitch to haul Schuldschein into 21st century

Housing associations keep sterling PPs buoyant

Hammerson hammers out Intu revolver

RHI Magnesita cuts debt after merger

Green loans get guidelines from LMA

Euro PP lenders first to welcome ECB tapering

Leveraged finance loans

Retail funds pile into loans ahead of Fed meeting

Uber closes successful self-driven deal in hot US lev loan market

Tourist trap: day trippers cannot resist the yield in levfin

Emerging market loans

Russian miners sign deals amid elections

Investec laps up South Africa’s political clean-up

Emerging Markets

News

Bahrain returns as new deal announcements slow

Russia was right to print its defiant bond

Moz debt offer found lacking by bondholders

CEEMEA trio offer high premia as investors get defensive

Metinvest asks investors to swap out of complex bond

Russia’s sanctions-proof bond trades up despite weak market and UK spat

Sigma prices, Gilex waits in choppy Lat Am

Lat Am DCM turns creative despite softer tone

Minerva plots perp return amid Brazil LM frenzy

Bond Comments

League Table

Equity

Game over for Vivendi as Ubisoft pulls off ECM coup

Elkem prices at bottom of the range

Equity investors brush off Russian risk as TCS trade flies

France’s Carrefour bags $500m from second CB placement in 12 months

Glencore sells $500m equity-neutral CB at ‘aggressive’ terms

NIBC’s decent discount pays off as IPO closes

Market News

Staley tells all about his investment in FICC

Nex said to be in final talks with CME

Meet the new market whistleblower: AI

Soc Gen hopes for end of US DoJ probe

EU sticks to ‘unilateral’ financial services equivalence for future UK relations

People Moves

UBS banker leaves syndicate role for new job in tech

People moves in brief

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Valet parking leaves Soc Gen with ‘double’ space to fill

Euroblog

MTN Leak

Loans Ranger

Tuesday view

Limited Brexit transition deal just prolongs uncertainty for the City

Secrecy is not an option

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons