Issue 1687

Main

Cover Stories

Corporate bond investors 'freaking out' at ECB amid 'unhealthy' market

EM primary thrives but rates fears simmering

Energy firms facing insolvency bank on ABS

Cornerstones go mainstream for European IPOs

Leader

What price bonds in the Biden era?

Public Sector

News

France smashes 50 year as EU preps first SURE deal of 2021

EIB reboots €STR FRN market with curve extension

Cades brings first ever SSA sterling social bond

UK raises £6.5bn with first 2021 syndication

Investors put ECB commitment to the test

EBRD shows patience to print flat to curve

Bond Comments

France EUR7bn 0.5% May 72

UK GBP6.5bn 0.875% Jan 46

NWB EUR500m 0% Feb 37

AIIB USD3bn 0.5% Jan 26 sustainable development bond

Cades GBP1.5bn 0.125% Dec 25 social bond

EIB EUR1bn FRN Jan 28

Covered Bonds

News

Sparebanken Sør draws strongest demand for sevens

RBC issues narrowly subscribed 10 year

KEB Hana debut outing achieves stellar response

Drop in covered bond supply questioned

Bond Comments

Financial Institutions

News

Quality not quantity for BFCM sterling senior

Capital trades the focus for Aussies in 2021

Higher rates and execution certainty aid Yankee bank issuance

Austrians keep quiet euro market ticking

Swissie investors target quality not quantity

Bond Comments

Banque Fédérative du Crédit Mutuel GBP400m 0.875% Dec 27

Erste Group Bank EUR500m 0.25% Jan 31

Securitization

Asset Backed Securities

LendingClub becomes first fintech-turned-bank

Moody’s rates first aircraft ABS in 10 years

News

Residential MBS

Morgan Stanley brings RMBS with new yield boost feature

Lendco brings first RMBS deal after market opens

Structured Credit

Anchorage taps European CLO market after year-long break

CSAM prices largest CLO in two years

Senior CLO debt managed by Seix slashed by 37bp in AMR auction

ESG securitization: why CLOs are struggling to change colour

Derivatives

Corporate Bonds

Aircraft lessors crowd to market after monster rally

News

Total hits hybrids as sub debt spreads swing out

High grade corporates get bumper demand despite ECB meeting

Buyers queue down the aisle for Tesco SLB

Bonds Comments

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

‘Give us airline care’: Eurostar begs UK government for funds

Trafigura causes stir with debut Schuldschein

Aedifica debuts in US PPs

Düsseldorf Airport takes state loan as Hamburg might follow after market slip

Apax Global Alpha tweaks revolver as amend and extend trend grows

Direct lenders toughen up as latest Covid wave bites

Leveraged finance loans

Flender financing to set ESG precedent for lagging levfin market

Emerging market loans

Saudi lands $3bn export financing agreement with Korea

Lidl shops for second Asian loan

Emerging Markets

News

Gazprom drills for dollar bond, concerns remain over NS2 sanctions

Turkey leaves 'a bit on the table' to take a third of annual funding need

Sovcombank goes for rare social bond

Bahrain sells triple-trancher, following fellow HY Gulf sovereign Oman

NCB sells AT1, market anticipates govvie deal

YPF battle is a bad omen for Argentina bondholders

Unifin launches exchange, plots new deal

Bond Comments

National Commercial Bank USD1.25bn 3.5% PNC6 AT1

Bahrain USD500m 4.25% Jan 28 USD1bn 5.250% Jan 33 USD500m 6.250% Jan 51

Sovcombank USD300m 3.4% Jan 25 social bond

Turkey USD1.75bn 4.75% Jan 26 USD1.75bn 5.875% June 31

League Table

Equity

Vape liquid maker Supreme lines up London flotation

InPost sets range on IPO that could reach €3.2bn

Big deal: Huuuge launches Warsaw IPO

‘Spoons returns to equity market as lockdown bites

Rhône Capital sells Fluidra stock after profits surge

Market News

Bryson hire reveals SMBC Nikko’s ambitions in EMEA capital markets

Afme proposes recapping with equity-like

Investment banks report full pipelines after excellent 2020

People Moves

RBC promotes from within as Uden retires

HSBC team to target MENAT ESG activity

People moves in brief: January 21, 2021

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Santander pins corporate finance strategy on ESG

Euroblog

MTN Leak

Loans Ranger

Tuesday view

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons