North America

Credit Suisse took advantage of highly favourable funding conditions to take out $2bn as it took a further step towards meeting its total loss-absorbing capacity (TLAC) requirements.

Cash continued to pour into the US high grade corporate bond market this week after Janet Yellen appeared to rule out a rate hike in June.

A resurrection of what should have been last year’s biggest deals from Veritas and a euro deal from Altice point to a leveraged loan market that has returned to good health, writes Max Bower.

Tumbling volatility over the past months has caused US and European corporate credit risk prices to converge, despite credit investors bracing themselves for diverging monetary policies.

JP Morgan raised €2.5bn of two year senior floating rate notes on Tuesday, using favourable market conditions to generate a negative new issue premium.

ANZ became the first Australia-based bank to launch a foreign currency additional tier one (AT1) this week, attracting a blowout book for the $1.5bn trade.

Bank of Montreal (BMO) issued its debut dollar legislative covered bond on Thursday, achieving the tightest spread of any covered bond issued this year in the currency.

The International Swaps and Derivatives Association has appointed a permanent replacement for David Geen, its former general counsel who left earlier this year, while also naming central counterparty senior executives to its board.

The Bank of Montreal has priced its first covered bond in dollars since Canadian covered bond legislation was implemented in June 2012. Having been out the market for so long, the deal benefitted from “scarcity value” and was priced with no new issue premium.

A pair of public sector borrowers are lining up to sell dollar floating rate notes on Thursday, following a series of floating and fixed rate deals in the currency on Wednesday.

Berenberg has appointed James J. Ramp to take up a new brand new post for the firm as head of US equity capital markets.

truePTS has appointed a former IntercontinentalExchange official as its first chief executive officer since becoming an independent post-trade derivatives business.