Issue 1613

Main

Leader

Deutsche’s decline may cause a German rethink

Public Sector

News

AIIB to add Kangaroos, Pandas and Uridashis to funding mix

EIB targets ‘unifying template’ for all post-Libor FRNs

Kommuninvest sets target of a green bond every quarter

SSA pair follow KfW through slim window

UK DMO celebrates 60th syndication with linker hit

Bond Comments

Italy EUR3bn 2.8% Mar 67

UK GBP2.5bn 0.125% Aug 41 linker tap

EFSF EUR2bn 0.05% Jul 29, EUR1bn 1.75% Jul 53 tap

Covered Bonds

SG 'sets a standard' with first green OFH

BHH just misses negative yield with green Pfandbrief

Opportunistic covered bond supply tipped

TD keeps active in euro and dollar covered bonds

News

Bond Comments

Financial Institutions

News

Apra tier two push leaves Australia banks to count the cost

Fineco prices inside UniCredit with blowout AT1 debut

AT1 investors reveal doubts about Deutsche Bank restructuring plans

Rothesay breathes life into dormant tier three market

ECB minutes boost hopes for pre-summer supply

Greek banks revel in one-off issuance window

Mediobanca gets hefty demand in return to senior pref

Cembra Money Bank covers all the bases

CNP Assurances postpones green T2

Nationwide leads Yankee charge following Fed meeting

Bond Comments

Banco de Sabadell EUR1bn 0.875% Jul 25

Securitization

Asset Backed Securities

News

Interest rate cut to drive investors to esoteric asset classes

Greencoat Investment loses latest court battle in CMBS dispute

KKR ushers in first public Spanish NPL transaction

Benchmark ABS to outperform higher yielding sectors

Westfield Stratford City to refinance 2014 CMBS

DLT firm starts securitization platform for private debt

Red Cross volcano bond attracts UK state

Kensington deal tightens as pipeline churns

Residential MBS

Structured Credit

Derivatives

Tradeweb and LCH transaction volumes soar

‘Net short’ defence language could prove useless in bonds

TrueEx forced to shut

TriOptima cuts down Eurex exposure with record compression

Corporate Bonds

News

Metro LBO bid looks rough for debt holders, whatever happens

A2A’s green debut gets ultra-negative NIP

Westlake’s euro debut twice covered in empty market

BASF profit warning raises fears of down cycle for chemicals

Yankees romp as Panasonic back after 20 yrs

Accent housing group makes tight debut in wider NIP mart

Bonds Comments

High yield

MTNS and CP

News

Volvo and Heineken show the way

MTN bankers await AIIB programme

IFC kicks off funding year with green taps

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Tight bonds could stymie Schuldschein record

Jan De Nul subsidiary turns bank facility green

Schuldschein’s negative illiquidity premium

Leveraged finance loans

Emerging market loans

Bahraini lender BCFC borrows from local banks

TSKB closes annual loan as lenders gear up for refi round

‘Tight’ Cocobod loan to close by September

Emerging Markets

News

Tunisia’s tight €700m a sign of EM allure

Eurotorg leads sov into roubles

Negative NIPs for DP World deals as investors vie for long end paper

Romania scores in busy euro market

Turkey investors disregard Erdoğan’s central bank meddling

Telecom returns but investors wary on Arg

Lat Am borrowers flock on busiest day of year

Bond Comments

Tunisia EUR700m 6.375% Jul 26

League Table

Equity

Voltalia raises €376m of equity capital to grow power capacity

Swiss Re calls off ReAssure IPO due to tepid investor demand

UniCredit finishes FinecoBank separation

Market News

Industry ignores Paris, worsens climate change

FCA homes in on bad behaviour

UBS to make a splash in private pools

Deutsche to keep ECM sales, retreat from blocks market

Add-backs take leverage levels above 2007 — BoE

Deutsche hopes to leave the sick bay after equities cull

Amundi-EIB fund to seek riskier green bonds

People Moves

People moves in brief

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Can corp fin survive the Deutsche equities rout?

Euroblog

MTN Leak

Loans Ranger

Tuesday view

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons