Issue 1642

Main

Leader

Covid-19 threatens more than the global economy

Public Sector

News

CPPIB faces down volatility

MTN volumes flag but non-core soars

EIB impresses with note linked to Sofr index

EPPF widens issuer offering, introduces third-party docs

World Bank’s pandemic bond tranche nears coronavirus wipeout

Primary markets shut as coronavirus wreaks havoc in rates, equities

Bond Comments

Spain EUR5bn 1% Oct 50

ESM EUR2bn 0.01% Mar 30

CPPIB Capital USD1bn 1.25% Mar 25

Unédic EUR1.25bn 0% Mar 30

Covered Bonds

Covered bonds expected to reopen FIG, when time is right

News

Bond Comments

Financial Institutions

News

EU MREL: too complicated by half

Market lacks confidence in European bank resolution, says S&P

Santander UK targets capital optimisation with T2 tender offer

Metro launches new strategy, plans to issue more MREL

ING hit by weaker sentiment on return to AT1 market

Hamburg Commercial to skip Milan meetings on T2 roadshow

Bond Comments

ING Groep USD750m 4.875% PNC9.75 AT1

Securitization

Asset Backed Securities

News

Destination: Dublin as Dutch VAT ‘earthquake’ sends CLO managers scurrying

CLOs edge closer to digitalization after success of AMR

Renovate America opens up 2020 PACE pipeline

Consumer ABS less plain vanilla as credit cycle ages

MUFG plans project finance, aviation CLOs

SEC ratings watchdog floats reassessing rule 17g-5

Eurobank applies for Hercules NPL programme

Barclays lands tightest 2020 CLO with second CIFC deal

Residential MBS

Structured Credit

Derivatives

Eurex hires from platform for buy-side clearing push

Tradition adds dealer and client to new swaps Clob

ICAP accelerates equity strategy with European special situations desk

Ferber lashes out at ESMA for Ophèle appointment

Cross-currency swaps headache looms in Ibor transition

Corporate Bonds

Corporate bonds walloped as virus sell-off surprises

Coronavirus claims $30bn of supply

Paccar's €300m bond nearly three times subscribed

Lundbeck to make bond debut after drug news

News

Syngenta slips through only Swiss franc window

Bonds Comments

High yield

Plucky levfin forced to yield to mounting alarm about virus

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

India’s Adani weighs up Schuldschein debut

Severn Trent to sell PPs after Ofwat decision

Ascential adds lenders during sterling refi

Siemens Gamesa turns bilateral factoring line green

Maersk signs sustainable loan amid rating agency virus warnings

Lenders hope Covid-19 doesn't throw off Q2

Leveraged finance loans

Emerging market loans

Norilsk Nickel snags bigger and tighter loan

Stanbic Nigeria raises loan, African FIs remain hot

Emerging Markets

News

Belarus roadshows in quiet market but sale may not be immediate

The show should still be on the road

Egypt turns green but few MENA sovs to follow

Lat Am seeing bright side ahead of busy March

Peruvian miner, Brazilian airline prepay bonds

DCM bankers await Arg restructuring mandate

Bond Comments

League Table

Equity

Coronavirus correction keeps block trades at bay

Italian payments firm moves ahead with IPO plans

Aston Martin braves battered markets to launch rights issue

Hipgnosis mulls new share sale after acquiring Cher hits

EDP block multiple times covered despite virus sell-off

Yandex offers CB buyers taste of Russian tech

NMC Health converts tank after shares suspended

Market News

Lagarde talks up Europe’s climate finance role

World Bank’s Malpass lambasts ECB

With Sanders gaining, wonks look to soothe market’s fears of a progressive president

BoE ‘turbo charges’ post-Libor transition with plans for index and ramped-up haircuts

Tech boutique offers tool to spot greenwash

People Moves

Corbat’s chief of staff moves to Europe

MUFG loses co-head of DCM

People news in brief

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

UBS goes for ‘one firm’ approach to improve IB

Euroblog

MTN Leak

Loans Ranger

Tuesday view

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons