Issue 1621

Main

Leader

Public Sector

News

AfDB sells debut offshore renminbi bond

Gothenburg to increase green bond issuance

EBRD to launch first ever climate resilience bond

FMO prints Boliviano debut to develop frontier markets

Euro SSA market reopens with a bang

L-Bank brings first €STR FRN with EIB and other SSAs to follow

Bond Comments

CEB USD1bn 1.75% Sep 19

Bpifrance EUR1.25bn 0.05% Sep 29

KfW EUR4bn 0% Sep 26

Rentenbank USD1bn 1.75% Sep 21

NIB EUR500m 0% Sep 26 green bond

EIB EUR3bn 0.05% Oct 34

Covered Bonds

UK trio pounce on euro covered bonds

News

Bond Comments

Financial Institutions

News

Nationwide shows AT1 issuers how to get more first call flex

Italian banks shed populism premium in bond market return

LBBW struggles for demand with second FIG social bond of the week

Metro lines up after mega week in sterling

Perm TSB takes chunk out of MREL targets with debut deal

Insurers seize favourable conditions to rejig debt stacks

Growth spurt in RT1 market as Achmea and ASR add to stock

ECB breathes life into FIG as investors prepare for infinite QE

Bond Comments

Banca Monte dei Paschi di Siena EUR500m 3.625% Sep 24

MetLife EUR500m 0% Sep 22

Raiffeisen Bank International EUR750m 0.375% Sep 26

Securitization

Asset Backed Securities

News

Issuers price a dozen ABS to send volume past 2018 levels

Euribor floors drive arb as Permira launches CLO equity fund

Court ruling frees Spanish mortgages from legal purgatory

Leeds Building Society RMBS draws heavy demand

Servpro deal tightens as esoteric ABS continues to shine

Investors pile into Hewlett-Packard IT equipment ABS

Downgrades may point to shifting auto views at S&P, DB says

Residential MBS

Structured Credit

Derivatives

Ex-Fidessa derivatives head emerges at Iress

CFTC Democrats reject Volcker revisions that go 'for the throat'

Industry welcomes FDIC’s margin relief

FCA head urges against complacency on Ibor transition

Brexit, rise of private debt and regs fuel FX swaps

Corporate Bonds

News

Fed’s repo remedy and rate cut leave US corporate bond market perky

Bankers squint at Thermo Fisher curve to spot fair value

Telenor and Mondelez come on calmer day

Euro bond market creaks a little as more IG companies join fray

Bonds Comments

High yield

New covenant gimmicks land in Europe with Inmarsat buyout

Are you Sirius? Protecting retail investors from themselves

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Lenders back LSEG bridge despite hostile HKEX bid

ING carves itself role as the green SSD house

Loans in Brief: September 20, 2019

Leveraged finance loans

Telecom Italia offers SSD a taste of Italy

UK govt threatens to ground £4bn Cobham buyout

Emerging market loans

Sukuk and bonds seduce Gulf borrowers as loans wither

Emerging Markets

News

Armenia returns for first bond in four years with pricey 10 year

Zelensky must be seen to be on the straight and narrow

Sibur shrugs off Saudi drone attack to print $500m

Privatbank troubles start to worry Ukraine investors

Afreximbank profits from light supply to print $750m

STLC to test quasi-sovereign Russia appetite

SRC to issue second sukuk this year, as securitization added to agenda

Sovereign pair offer first autumn CEEMEA euro deals

Flurry of Middle East paper on the way

Petrobras exchange bond flies on break

Banco Voto eases to dual tranche bond return

Investors chomp at BRF bit in strong Lat Am

Minera México comes flat to parent as Interbank lines up

Bond Comments

Sibur USD500m 3.45% Sep 24

Afreximbank USD750m 3.994% Sep 29

League Table

Equity

Aramco: never mind the drones, feel the profits

Ferretti pitched as Ferrari of the seas but must avoid Aston repeat

Investors fear also-rans as IPO activity rises

RCF lines up listing as Italian ECM renaissance continues

Banks hope for fair October winds for Zero-E listing

SoftBank derisks Wirecard investment with startling CB arb

European equity-linked revival continues with new Ubisoft CB

US companies pile into convertible bonds

Kaspi.kz brings more EM joy to London amid Brexit gloom

Market News

EU to launch international green finance body

People Moves

Moves in Brief: September 20, 2019

Columns

Leader

Covered bonds to lead FIG tighter

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

LSE lines up advisory heavyweights against HKEX

Euroblog

MTN Leak

Loans Ranger

Tuesday view

Aramco: how do you discount for drones?

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons