Issue 1682

Main

Cover Stories

Transition bond market heats up after year out in the cold

Any yield will do: all bets on as risky Italians grace FIG primary

SSAs brace for fierce funding competition

Anxieties fester over long-term EM debt sustainability

Leader

Is UniCredit a solution to Italy's problems?

EU should consider regular bond calendar

Public Sector

News

UK MBA pulls bond for Warrington amid uncertainty following PWLB rate cut

EU contemplates ‘nuclear option’ for recovery fund

UK DMO chief sets out vision for £30bn green bond curve

KBN and L–Bank bring 2020’s ‘final’ SSA dollar bonds

Finland drops Moody’s from solicited credit ratings

Bond Comments

L-Bank USD1.25bn 0.5% Dec 25

Covered Bonds

EU may kill the green bank debt market

Covered mart dismisses mortgage industry worries

Covered bonds ‘zeroed’ by EU’s green Taxonomy

News

MunHyp prints through Pfandbriefbank in Swissies

Bond Comments

Financial Institutions

News

CNP makes assured return to T3

Credit Suisse finds window for record low AT1 print

BPCE calls into Samurai market with SNP deal

Record low spreads on offer for ESG bank issues

Bond Comments

Banca Monte dei Paschi di Siena EUR750m 1.875% Jan 26

Crédit Agricole EUR1bn 0.125% December 2027 social senior non-preferred

Securitization

Asset Backed Securities

Investors say Hertz ABS ‘incredibly positive’ step

News

Scars from virus to haunt ABS traders long term

ESG, Libor shift to accelerate despite govt split

Residential MBS

Full stack sales block payment holiday fixes

Axa Bank Belgium and BNPP price first placed synthetic euro-RMBS

Structured Credit

2021: year of the credit picker

CLO market hopes new govt keeps Volcker shift

Covid crisis set to sort CLO winners from losers

Derivatives

Corporate Bonds

Companies pile into hot dollar market

News

VW 'aggressively' parks €500m MTN

Long end is the strong end for BP and Deutsche Bahn

Corporate spreads hit pandemic lows and are tipped to grind tighter

Europe’s high grade corporates see bulging books despite time of year

Bonds Comments

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

SSD arrangers scour for new sectors

Lenders’ £180m G4S GardaWorld payday hangs in the balance

SSE Renewables and Equinor sign largest ever offshore wind loan for Dogger Bank

Calmer 2021 forecast for corporates but lenders remain poised

Leveraged finance loans

Datasite buyout blends best of private and public funding

CeramTec lets rating slip to fill M&A warchest

Emerging market loans

Uzbek car maker enters syndicated loan market

Emerging Markets

News

Ukraine DMO convinced of fundraising abilities as budget deficit to shrink in 2021

Bahamas tightens tap to wrap up funding

Gerdau buys back bonds amid Brazilian steel demand

Córdoba ups offers as Río Negro seals deal

Lat Am springs surprises as FS revives bond with collateral

Bond Comments

VakifBank USD750m 6.5% Jan 26 sustainable bond

Istanbul Metropolitan Municipality USD580m 6.375% Dec 25

League Table

Equity

New reinsurer lists in London in popular IPO

Onex sells out of SIG Combibloc after Sfr657m sale

IWG issues debut convertible to fund M&A

Accor launches €500m convertible after vaccine rally

Investors running on fumes as ECM deals rumble on

Europe hopes Niel’s new Spac will lead issuance wave

Market News

Bond investors start grilling EM sovereign issuers on ESG

S&P and IHS Markit link up

Sweden’s QE to see green

Libor administrator to consult on extending most dollar rates to 2023

Gallic influence to rise in EU's capital markets

Italy bests investors as Padoan rules UniCredit

Eurogroup agrees on early SRF backstop

BlackRock, Vanguard block climate motions

Newmarket CIO spies $200tr private debt win

People Moves

People moves in brief

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Mustier can leave with head held high

Euroblog

MTN Leak

Loans Ranger

Tuesday view

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons