Issue 1567

Main

Leader

Elon Musk and the Trumpification of investor relations

Ain’t nothing but a number

Public Sector

News

Greece 10 year ‘in August or September’

Who said what now? Italy’s ministers take BTPs on ride

EIB: no funding cut with ECB oversight

First mover advantage: euro market braced for stormy year-end

California rebuts Trump ‘lunacy’ with green bond pledge

California’s push could restart idling US municipal green bond issuance

Bond Comments

Covered Bonds

News

Kiwi covereds to widen, but not due to affordability

Covered bonds can green Italy’s economy

Bond Comments

Financial Institutions

News

US fins plunge into market as Discover innovates

UniCredit seeks Cashes compensation from Caius

HSBC is dancing around disco issue, say investors

Barclays and BNPP pick summer window for AT1 splurge

Lloyds and BNPP jump on dollar gravy train

Italian budget ruckus threatens fragile banks

Bond Comments

Barclays USD2bn 7.75% PNC5 AT1

BNP Paribas USD750m 7% PNC10 AT1

Securitization

Asset Backed Securities

News

Kushners’ troubled CMBS-financed tower finds hope in Brookfield

WeWork’s footprint in US CMBS set to surpass $1bn

Clifden’s Fairhold CMBS move gets its day in court

BAML surprises summer market with sterling CMBS

MPL ABS notches record breaking second quarter

Commercial PACE firms plot regular ABS outings

Residential MBS

Structured Credit

Derivatives

Default resources concentrated at two CCPs, say watchdogs

Rates derivatives trading surges on Tradeweb

Turkey drama shines light on robust CDS liquidity

Byte Me: Crypto flying right?

Corporate Bonds

News

Volkswagen triple dips amid hot summer demand across Europe

US corporate issuance fades after pacy start to week

US high yield bounces back after slowest July since ’09

Tesla investors caught up in buy-out maelstrom

Bonds Comments

Volkswagen Leasing €1bn 0.25% Feb 2021, €750m Feb 2023, €750m Aug 2025

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Kroenke readies bridge loan for Arsenal takeover

Mutual Energy turns private with £200m PPs

Leveraged finance loans

Frontier hit with downgrade after earnings disappoint

Wider spreads here to stay, say leverage finance investors

Emerging market loans

Turkish soda firm lands large loan

Global lenders stay loyal to Turkish banks as EM buyers flee

Emerging Markets

News

Bondholders offer Mozambique bond refi

High yields draw investors’ return to emerging markets

Investor fears rise as US-Russia diplomatic tensions ratchet up

Argentina adds concerns to risk-averse Lat Am

Brazilian duo wrap up liability management deals

Bond Comments

League Table

Equity

Victoria raises £60m to fund Saloni takeover

ECM investors still cautious on 'unloved' Italy

Big Spanish IPO to boost ‘exciting’ autumn season

Fever-Tree founders sell £103m of stock at highest price yet

African dual listing plans set to give boost to London ECM

Sibur IPO talk premature, says CFO

Market News

Investors won't be compensated for Popular, says SRB

No Brexit deal? No worries for bond deals… yet

UniCredit grilled over Yapi as Turkey crisis deepens

People Moves

People Moves in Brief

CS grabs Krim as Paris-based DCM head

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

No creditor is better off without a good Popular precedent

And the client lived appily ever after?

ECB oversight of the EIB makes little sense

Food for thoughts

Southpaw

Euroblog

MTN Leak

Loans Ranger

Tuesday view

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons