News content
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After the credit crisis, the compliance crunch. Market players wrangling with the regulatory ringwraiths Dodd-Frank, the European Market Infrastructure Regulation and the Market in Financial Instruments Directive, to name a few, are buried under sprawling compliance and capital efficiency demands. It’s time to outsource.
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Three CEEMEA issuers announced this week that they were meeting investors as the low rates environment continues to attract borrowers to the market. But after the lead managers on deals from Emirates NBD and Brazil’s Votorantim in euros failed to tighten pricing from initial guidance levels, there are questions over market appetite. On Thursday evening one of the issuers postponed, saying they would “re-engage with investors later”.
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Finnish municipality City of Seinäjoki debuted in the capital markets this week, as interest grows among the country’s municipalities to access the markets directly.
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Changing regulations, evolving cost structures and collateral optimisation systems moving to the front office are forcing buyside firms to consider outsourcing their operations, according to a leading market research firm.
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Det Norske Oljeselskap, the Norwegian oil exploration company, has obtained a $500m revolving credit facility from seven banks and is considering issuing bonds.
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On the brink of one of the most uncertain UK general elections for years, corporate bond bankers are more concerned with where interest rates are going.
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An excruciating rise in Bund yields over the last 10 days has rocked the market, but a sharp widening of eurozone periphery spreads this week could be far more dangerous.
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Gilt yields spiralled higher on Thursday but many market participants attributed the moves to spiking government bonds across the globe.
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Mining company Petra Diamonds closed a successful $300m debut deal on Wednesday — the only one from the CEEMEA region this week in dollars or euros. The bond was trading well in the secondary market on Thursday with the order book having drawn over $1.1bn.
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Freenet, the German internet provider, has signed a €100m Schuldschein bond. The book was oversubscribed but Freenet did not increase the size, according to a banker on the deal.
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HFT Investment Management (HFT IM), the joint venture between BNP Paribas Investment Partners and Haitong Securities, has appointed Shanghai-based Patrick Liu as its new chief executive officer.
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Nordic Cinema Group, a cinemas operator, is preparing to launch around €350m of acquisition loans in Swedish kronor and euros, to back its buyout by Bridgepoint.