News content
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Gothaer Allgemeine Versicherung managed to price its 30 year non-call 10 subordinated notes on Wednesday, after they were postponed last month. In doing so it became the latest in a series of insurers raising capital this week.
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Qatar Islamic Bank (QIB) has given an indication of the new issue premiums Middle East names now have to pay. But estimates from bankers away from the deal on the QIB concession were twice as high as from those on the deal.
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Central eastern European sovereign supply is moving further out the credit curve, with Romania on Wednesday attempting its longest dated euro deal yet.
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Credit Suisse announced on Wednesday a double deal to raise Sfr6bn of new capital, a 15% increase, to strengthen its common equity tier 1 ratio.
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Earnings blackouts have set in, subduing the investment grade corporate bond market in Europe — but that is no bad thing, as the market could do with some pent-up demand to give it some zip.
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Any fears that two pulled SSA euro syndications within the space of just over a week — the first from public sector borrowers this year — signalled a lack of demand were put to rest this week.
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Two rare credits have brought Middle East supply back to life, while in Europe the CEE sovereign run is still going strong.
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Government-owned development bank Nacional Financiera (Nafin) is plotting what would be the first ever green bond from Mexico and — unlike the previous two such bonds from LatAm — will be ringfencing the proceeds.
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The recent rally in Europe’s iTraxx Main and Crossover credit indices has brought them back to within touching distance of the spread levels they held at the roll in to their latest series, before the end of September spike in volatility. But the Senior Financials basket continues to outperform corporate credit, with some market participants describing the offset as a one-way trade.
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Deezer and Showroomprive, two French websites, though of very different kinds, are seeking to attract demand for their respective initial public offerings.
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Oberthur Technologies, the French smart cards maker, is refinancing with €650m of new facilities in connection with its IPO, announced on October 19.
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Nederlandse Waterschapsbank bounced back from a pulled deal last week to print its largest trade in any currency to date on Tuesday, as a Canadian province mandated for a euro deal.