North America

The International Swaps and Derivatives Association on Wednesday pushed for “enhanced supervisory cooperation” between clearing houses in the wake of Brexit.

RBC Capital Markets is losing two members of its US private placements team in New York, one of which is a business veteran.

Deutsche Bank is cutting 400 staff from its corporate and investment bank across the Americas as part of a cost-cutting drive that has accelerated under new CEO Christian Sewing.

Work space provider WeWork is planning to tap the US high yield bond market this week, the latest in a recent string of early stage companies to turn to the capital markets to help fund cash intensive growth strategies.

McGraw-Hill Global Education has obtained a payment in kind (PIK) term loan from funds advised by Guggenheim Partners and Ares to help refinance its 2019 PIK toggle notes, five months after it pulled a PIK toggle bond aimed at achieving the same goal.

The moribund dollar covered bond market is set for a renaissance as the cost advantage compared with other currencies and other sources of wholesale funding has improved. Issuers ought to be renewing alternative sources of demand.

Post-trade infrastructure giant the Depository Trust and Clearing Corporation (DTCC), has warned derivatives markets that attempts to implement distributed ledger technology should be coordinated, lest mistakes of the past are repeated.

After strong first quarter results and in a receptive high yield market, online streaming service Netflix announced a new $1.5bn 10.5 year senior unsecured bond on Monday to finance new content for the platform, eventually walking away with $1.9bn.

After selling €4.6bn of loans in March, Unilever Spreads unveiled the €1bn high yield bond portion of its leveraged buyout funding package on Wednesday. But as well as jumbo deals, other borrowers with smaller offerings are also vying for investor attention.

One of the drawbacks of the strong growth in interest in responsible investing is that many investors only want to take conventional kinds of risk — such as buying large, liquid equities or investment grade bonds. But a report out this week suggests even small, obscure impact investments have a safe risk profile — perhaps even better than mainstream investments.

Swiss seed company Syngenta enjoyed a bumper order book as it printed a $4.75bn bond six months after abandoning its first attempt.

The European Central Bank’s Ad Visser acknowledged its "flexible" approach to covered bond purchases at the European Covered Bond Council’s plenary meeting held in Vancouver on Wednesday. His remark was made in response to a question about whether the ECB was reducing its primary market orders by 10% to a maximum of 30% of a deal’s size.