News content

Three month Euribor, the benchmark short term lending rate in euros, this week did what was once unthinkable and dropped to a negative level for the first time.

Rupert Hume-Kendall, one of the dominant equity capital markets bankers in Europe during the years 2000 to 2008, is to retire from Bank of America Merrill Lynch at the end of September.

RBC Capital Markets has added to its credit sales effort in Frankfurt with a senior hire.

The Greek government’s tapping of state enterprises for cash this week staved off fears of imminent default — but other periphery issuers may still speed up supply as worries persist.

A first three year dollar benchmark from World Bank in several years won universal acclaim this week. But, more importantly, it showed the potential of a new bid from the US.

Saudi Arabia’s Capital Market Authority is pressing ahead with a long-awaited plan to open up the Riyadh stock market to foreign investors. Market participants hailed the news as a strong signal of reform, but cautioned that a lot more had to be done if the Saudi bourse is to normalise institutional access to its stocks.

European Investment Bank’s first five year Kangaroo deal for more than a year attracted strong interest from Asian investors this week.

At the International Swaps and Derivatives Association's AGM in Montreal on Thursday, the Commodities Futures Trading Commission appeared receptive to evolving discussions of post-trade name give-up on swap execution facilities in light of growing buyside demand for anonymity.

German DCM teams are being inundated with queries from European banks seeking to understand Germany’s bail-in proposal and its potential implications.

A pair of issuers were able to access sterling in size this week as European investors increasingly seek to buy in the currency.

Floating rate MTN issuers in Europe are preparing to go through the looking glass, as three month Euribor goes negative for the first time, slowing the market for euro issuance and threatening to put some borrowers in a uniquely frightening position, writes Jonathan Breen.

Although oversubscribed, the first €3bn syndication from a public sector borrower since the European Central Bank began buying in the sector — a 0.2% April 2025 issue for the European Financial Stability Facility — has left bankers fretting over crowded-out investors deserting SSA debt in the single currency, writes Tessa Wilkie.