Issue 1691

Main

Cover Stories

ECM switches to recovery mode in new spring offensive

Bubble called as H&M debut soars

Italy drops over €50bn of 'fast money' to print tight heralding Draghi era

DKB becomes first FIG issuer to cross negative yield line

Leader

Post-Covid extremes are not inevitable

Yo-yo books: the end justifies the means

Public Sector

News

Ratings agencies cautious on Next Gen EU impact

WisdomTree launches EU bond ETF

All aboard! Hochbahn debut draws crowd

SSA yields climb amid reflation talk

Bond Comments

Italy EUR10bn 0.6% Aug 31, EUR4bn 0.15% May 51

Covered Bonds

News

Liquidity buffers play second fiddle to reg treatment

Nationwide debuts 10 year Sonia linker

Scandis on fire as Nykredit, Stadshyp, LF Hyp and Sparebanken Vest find funding

VDP secures priority claim on UK assets in post-Brexit world

Bawag bags Depfa

Bond Comments

Financial Institutions

News

Landsbankinn sells green debut

Intesa makes eagerly awaited non-pref debut

Bank senior market enjoys busiest week of 2021

ING gives sterling investors greens to chew on

Bond Comments

Deutsche Kreditbank EUR500m 0.01% Feb 2026 green senior

Intesa Sanpaolo EUR1bn 0.625% Feb 26 / EUR750m 1.35% Feb 31 bail-in senior

Securitization

Asset Backed Securities

FortiFi readies first PACE ABS since rebranding

Innovation returns to whole biz ABS universe

Funding Circle strikes second CBILS securitization deal with Sixth Street

News

Italian NPL collections jump 71%

BoA and Barclays lead knockout Blackstone CMBS

Residential MBS

Structured Credit

Neuberger returns to EU CLOs after 14 year absence

CLOs said to seek spread as pipeline compresses arb

CVC hits the tightest triple-A spreads since 2018

CLO refi volumes set to stress market capacity

Derivatives

Corporate Bonds

News

Fashion needs to work harder to find green fit

Market looks for clues in Becton Dickinson’s 20bp tightening

Investors snap up thinly priced corporate debt as more stacks up

Treasury sell-off fails to dry US investors’ credit thirst

Geneva Airport makes tight landing

Iqvia breaks staleness silence in HY land

Bonds Comments

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

Commodity trader Mercuria launches US PPs

Trafigura’s SSD the first of many, says treasurer

Loan bodies add social risk language to Green Loan Principle documents

Grünenthal considers funding options after reports of scrapped leveraged debt sale

Serco draws existing debt for $295m WBB buy as transatlantic M&A heats up

AB InBev and Carlyle sign $14.2bn as SLLs become necessity

Leveraged finance loans

Emerging market loans

EM lenders struggle as bonds steal business, hopes for 2021 pick-up low

Emerging Markets

News

Oil recovers but EM petro states warned to diversify funding as revenues plunge

Rally opens up further bond possibility for Turkey

IMF talks: Ukraine saga could prompt bond but Africans fare better

National Bank of Kuwait launches AT1 to lead Gulf FIG rush

Alpek buyers withstand 50bp price squeeze

Bondholders fret over ‘reckless’ Argentina amid possible IMF delay

Bond Comments

League Table

Equity

UK green equity issuance grows in another good week

New Frankfurt-listed Spac joins rush to market in Europe

Mustier leads wave of Spac IPOs in Europe

Nexi issues second convertible bond, raising €1bn

Russian discount retailer preps for $1bn-plus IPO

TP ICAP achieves 98.3% take-up on rights issue

Market News

Barclays and Credit Suisse point to market share gains

Heavy industry way off track on climate, warns TPI

Hoveyda and other ex-bankers advise NPL Markets

Bank CEOs join Prince Charles’s net zero bid

People Moves

People moves in brief

Columns

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Europe’s banks double down on broking

Euroblog

MTN Leak

Loans Ranger

Tuesday view

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons