Issue 1660

Main

Cover Stories

End of GSE conservatorship nears but CFPB ruling raises new questions

Ukraine crisis cash in jeopardy after CB chief quits

ThyssenKrupp Elevator sees monster demand, paves the way for LBO lift-off

Banks size up final funding window before summer break

Leader

After a decade, why rush GSE reform now?

Time for SSAs to be more social

Public Sector

News

Growing non-core SSA issuance approaches record high

Competition stiff at sovereign auctions despite supply glut

UK extends borrowing remit to August

Belgium prints rare 60 year PP

Debut NRW.Bank social bond sparks 15 year flurry

EBRD goes for aggressive spread for dollar three year

Demand heating up for social CP, but SSAs unconvinced

Bond Comments

NRW.Bank EUR1bn 0.1% Jul 35 social bond

Covered Bonds

News

NN Bank builds strong demand behind soft bullet debut

Issuers turn to sustainable covereds amid uncertainty

Skipton looks to switch Libor for Sonia in covereds

Bond Comments

Financial Institutions

News

Investors hand CaixaBank a discount for Covid bond debut

Hannover Re tests risk appetite with new T2

Uniqa debuts new tier two structure in euros

Yankees keep up pace in dollar market

Bond Comments

CaixaBank EUR1bn 0.75% Jul 26

Securitization

Asset Backed Securities

News

Warehouse formation restarts but CLO managers face challenges

MPS to transfer €8.14bn of NPEs to state asset manager

GSO CLO hits tightest triple-A since start of pandemic

Ares extends NSF securitzation covenant breach waiver

Trio of Italian banks shift risk with NPL SRT deal

Solar ABS appeals to investors as Covid impact muted

AlbaCore European debut breaks another record

Residential MBS

Structured Credit

Derivatives

Cboe plans new derivs market within a year

Trade associations call for benchmark regs rethink

Deutsche Börse shuffles roles at Eurex, Frankfurt Stock Exchange

Corporate Bonds

News

Deutsche Bahn steams into niche

Rhätische Bahn sells second ever Swiss franc deal

Takeda gets large dose in holidaying US mart

Bonds Comments

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Covenants prove a wrinkle in PP battle with public debt

Leveraged finance loans

MasMovil bookrunners derisk bond deal with boost to loan

BASF Construction Chemicals next bridge to drop after TKE blowout

Emerging market loans

Emerging Markets

News

Poland lands negative yield with euro bond

Cross-default clauses are contentious point in EM debt relief debate

Lat Am bankers spy busy pipe after Cosan double

Peruvian bank duo turn to tier two for funding

YPF swap not distressed but Argentina battles on

Suriname to reschedule 23s but restructuring risks loom

Bond Comments

Poland EUR2bn 0% Jul 23

Jordan USD500m 4.95% Jul 25, USD1.25bn 5.85% Jul 30

Sibur USD500m 2.95% Jul 25

League Table

Equity

ADO Properties launches rights issue

Polymetal block auctioned fast as equity gold rush heats up

Biotech issuance surges as Covid-19 brings demand for innovation

Exchangeable bonds in focus as vol hits stocks

US companies sell $19bn of convertible bonds in June

Banks begin pre-sounding for autumn IPOs

Wirecard's insolvency triggers default for convertible investors

Market News

‘Father of venture capital’ Sir Ronald Cohen: We need a 'New Deal' on corporate impact

DirectBooks gears up for end-of-year launch

Deutsche sees investors’ interest in ESG fading

Structured products to remain under scrutiny at French banks

Barnier signals post-Brexit capital markets rupture

Critical hedge fund sees better way to do ESG

Hasty UK insolvency law ‘gives with one hand, takes away with the other’

People Moves

People moves in brief

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Three is the magic number for BofA

Euroblog

MTN Leak

Loans Ranger

Tuesday view

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons