North America
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Corporate earnings blackout throttled new supply in the dollar market, which was limited to supply from a handful of lesser known names, amid concerns about the strength of the deal pipeline.
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The global head of private credit at KKR has left the firm — despite its filing documents for a third ‘Lending Partners’ fund this week, suggesting it is raising another direct lending vehicle.
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The heads of funding at DNB Boligkreditt and Royal Bank of Canada told delegates at this week’s IMN conference that investors are well protected from a potential fall in house prices. UK covered bonds are similarly resilient, said a director at Fitch Ratings. And even in a hard Brexit, the privileged position of covered bonds would be upheld by UK courts, said a partner at Clifford Chance. -
China Everbright Greentech (CEG) is drumming up interest for a $500m Hong Kong IPO, with investor meetings starting this week, said bankers on the deal.
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The dollar market was on spectacular form on Wednesday, with a Canadian province pushing out a rare 10 year bond, a supranational smashing its size record and a $4bn five year from a German agency.
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Banco Santander ratcheted in pricing on three tranches of non-preferred senior debt on Tuesday, raising $2.5bn in its first dollar-denominated deal in the format.
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The first meeting between new US president Donald Trump and his Chinese counterpart Xi Jinping starting Thursday could prove fateful for the bilateral relationship and China's renminbi, with the outlook remaining cloudy on what the US president's next moves might be.
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The former chief operating officer of the Options Clearing Corporation (OCC), Michael McClain, has joined the Depository Trust and Clearing Corporation (DTCC) as general manager of equity clearing.
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Andrew B. Busch has been named by US Commodity Trading Futures Commission (CFTC) acting chairman, Christopher Giancarlo, as the Commission's first chief market intelligence officer.
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Public sector borrowers are lining up a three pronged attack on Wednesday in a dollar market that is enjoying its widest swap spreads of the year. Quebec is attempting the first 10 year dollar benchmark since the first week of the year, KfW is out in fives — a part of the curve that has also become attractive in euros — and the Inter-American Development Bank is coming at the short end.
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Nine mandated lead arrangers and bookrunners have invited lenders to join the international loan market debut of Ant Financial subsidiary, Alipay (Hong Kong) Holding. The money will partly be used to support Ant’s bid to acquire MoneyGram.
