Issue 1681

Main

Cover Stories

Record borrowing but debt sustainability a distant concern for UK

Bank senior market teeters on brink of first negative yielding print

EM sovereigns home and hosed for the holidays

Next year’s IPO market to offer greater diversity

Leader

UK infra investment needs more credibility, not more capital

Public Sector

News

Wallonia, Cades bring what may be year's last SSA benchmarks

Government reins in UK council borrowing with new PWLB guidelines

EU rounds off SURE funding for 2020

Bond Comments

EU EUR8.5bn 0% Jul 35 social bond

IDA USD2bn 1% Dec 30

Covered Bonds

News

Apac covered bond supply hopes boosted

UOB breaks several covered bond records

Bond Comments

Financial Institutions

News

‘Last chance saloon’ in FIG market as supply starts to slow

ECB warns of ‘abrupt increase’ in bank funding costs

Niche bank trio met with bumper demand

Bond Comments

Luminor EUR300m 0.792% Dec 24

Svenska Handelsbanken EUR500m 0.01% December 2027 green senior

Securitization

Asset Backed Securities

Student loan relief leaves market worried

Greene King securitization faces default as bondholders face a choice

News

FCA rolls out STS deal list ahead of Brexit

Residential MBS

Structured Credit

EBA gives hope to SRT market

First euro CLO switches to semi-annual

CBAM, AGL return to five year reinvestment

Arb ‘works again’ for euro CLOs after knockout CVC pricing

Derivatives

Corporate Bonds

Mnuchin deepens Thanksgiving chill by calling time on Fed bond support

E.On transfers €11.5bn of Innogy bonds to avoid unequal rights after takeover

News

URW raises debt after share sale debacle

Investors pounce on corporate ESG debt, slashing concessions

Investors queue up to get into Carmila’s opportunistic outing with others expected

Mercuria and Gunvor bring more banks into fold for US facilities

Bonds Comments

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Bellway debuts in US private placement market

Loans market defiant as Moody’s frets over faltering economic recovery globally

Greencoat agrees £500m debt-funded purchase but warned on debt metrics

Leveraged finance loans

Cineworld offers sweetener for new emergency cash

Emerging market loans

Emerging Markets

News

Serbia goes for dollars in second outing of the year

Bondholders pile pressure on Arg provinces

Turkey prices $2.25bn flat to curve

Junk-rated Oman taps investors in cash grab to bolster finances

Bond Comments

Turkey USD2.25bn 5.95% Jan 2031

Ivory Coast EUR1bn 4.875% Jan 2032

Oman USD200m 6.75% Oct 2027 USD300m 7.375% Oct 2032

League Table

Equity

Nordnet trades up following €885m IPO

More primary ECM deals ahead despite nearing year-end

Russia’s Ozon closes IPO with 'huge book'

Gresham House attracts strong demand for raise

Tryg shareholder reduces stake ahead of rights issue

Deals expected after vaccine news lifts airline industry

Market News

ESMA picks trio of candidates to be next chair

Schroders targets pandemic opportunity

ESMA: no change to derivs trading rule

Bots prepares 2021 launch for DCM platform

Green experts hopeful on new UK infra bank

People Moves

People moves in brief

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

MUFG seeks model change in quest for growth

Euroblog

MTN Leak

Loans Ranger

Tuesday view

Now is not the time to rush an ESG securitization framework

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons