Issue 1459

Main

Leader

Underestimate Brexit at your peril

Argentina resurgence timed to perfection

Public Sector

News

Manitoba nips ahead of FOMC meeting with 10 year

A rising rate lifts structured notes

Sweden lops a lump off 2016 and 2017 funding plans

World Bank breaks Kauri record

Euro deals lined up for July — but everything hinges on UK’s EU vote

Two-way CSAs popular for structured notes

Bond Comments

Covered Bonds

News

Covered bond volumes rise as funding window closes

Caffil’s low coupon OF relies on Eurosystem

Stadshypotek gets by with only just enough demand

Bond Comments

Financial Institutions

News

Lloyds bondholders lose out in third shot at £3.3bn ECN battle

‘Resilient’ QBE rides strong demand for T2 switch

Capital markets wake up to Brexit threat as SSAs, FIG brace for impact

Bond Comments

Securitization

Asset Backed Securities

News

European ABS players fear MEPs trying to shutter market

European ABS: you know when you’ve been Tang-oed

EU issuers advised to wait on US deals

Banks eye shuttered Russian RMBS market

Debut PACE issuer faces regulator’s concerns

Freddie Mac to pitch CRT to EU investors

Buyers circle CIFC as consolidation ramps up

US CMBS players face the music at CREFC event

Diversity is better for business, say panellists

Insurers underestimating illiquidity in whole loans

Residential MBS

Structured Credit

Derivatives

Portugal dragged down by debt and banks

Allen & Overy and Deloitte tout margin rules solution

Four auctions for Norske Skog CDS, confirms ISDA

US and EU set for discord on margin rules

Brexit surge and widening vol sends deriv markets into tailspin

Corporate Bonds

LafargeHolcim taps into technical opportunity

Brexit fears overshadow Fed and break dollar rally

Mærsk renews Nkr curve, hit bond grows to Nkr5bn

FCA Bank braves ugly market, wins solid book for €500m

Sysco prefers dearer euro deal to finish funding Brakes takeover

US green bonds come to euros in rare utility deal for Southern Co

Corporate, HY, EM and leveraged markets work right down to Brexit wire

News

Bonds Comments

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Akbank on awareness drive as it adds Asia focus and 3yr tenor

Investment grade or Non-leveraged loans

Evonik wraps up €1.9bn additives acquisition financing

Mercuria takes less on loan despite oversubscription

Fnac nears loan saga end with big oversubscription

Leveraged finance loans

Veritas ends buyout loan saga with heavy discount

Loans news in brief — June 16 2016

Springer takes €420m loan to repay subs

Hotelbeds goes wide for buyout debt allocation

Unit4’s €230m refi loan to test IT taste

‘Familiar’ Tele Col out with €125m loan

Emerging market loans

MOL and Eximbank gauge bank hunger for Hungary

Oman’s PDO nears finish on jumbo loan

Emerging Markets

News

Everyone already wants a piece of Russia

Brex-who? Taqa, Ooredoo haul in $8bn despite UK, Fed fears

Vivacom sale to go ahead after bondholders consent

EM not immune to Brexit but has other fears

ICD reverts to PPs after lacklustre public debut

Trio line up from Argentina as bankers stay bullish

Latin bond plans on pause as uncertainty hits

Bond Comments

League Table

Equity

Direct Energie block nets €42m as Ecofin sells out

Recipharm gets Skr805m in rights issue for growth

Castellum's Skr6.3bn rights deal to buy Norrporten flies

Schools group AcadeMedia soars after smash hit IPO

Hollywood Bowl puts out ITF for London IPO in July

Time Out drops after £90m Aim IPO for digital growth

La Française de l’Energie falls on Paris IPO debut

ECM faces black and white future: Brexit pain or Remain joy

Banco Popular rights oversubscribed as key shareholders stay in

Market News

MEP Tang welcomed to ABS jungle

People Moves

Rabo promotion leaves loans job up for grabs

People Moves in Brief

Columns

Old Money: ‘Nobody told us we could do that’

Leader

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

Nomura, Evercore join the equity advisory push

Euroblog

MTN Leak

MTN Leak: Drink up and repent

Loans Ranger

Tuesday view

We need to see the silver lining in EU's margin delay

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons