North America
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Canadian Imperial Bank of Commerce (CIBC) has printed a 10 year note on Monday, its first Swiss franc covered bond since 2012, and its fifth currency in covered bonds this year.
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BlackRock, Bank of New York Mellon and State Street have agreed to include Markit’s exchange traded fund collateral lists in their collateral management schedules. -
Unédic and the Province of Quebec on Monday became the first issuers to print in euros since the European Central Bank disappointed market participants at a meeting of its governing council last week.
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General Electric has terminated an agreement to sell its appliance business to Swedish household appliance producer Electrolux, toasting bankers' plans to provide bridge financing.
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Canadian Imperial Bank of Commerce took advantage of the back-up in three year euro swap yields following the European Central Bank meeting last week to issue a covered bond on Monday. The issuer paid a relatively small concession, funded 10bp more cheaply than it could have done in the dollar market and placed nearly a third with central banks.
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European regulators have ditched a long-running investigation of 13 major banks on charges of collusion in the credit default swap market, citing insufficient evidence.
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Tradition and Intercontinental Exchange are both making advances in power and energy derivatives, after unveiling initiatives this week.
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A trio of Wall Street’s biggest banks led a dash for dollars this week as a positive market backdrop drew a flood of issuance ahead of the year-end slowdown.
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McDonald's led a headlong rush by high grade US dollar debt issuers to grab investors’ attention before the year-end shutdown and a likely interest rate hike by the US Federal Reserve.
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Puerto Rico’s development bank made a $354m debt payment this week, narrowly staving off default.
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The Province of British Columbia (BC) has mandated Bank of China and HSBC as joint leads for its debut Panda bond, Mike de Jong, BC’s Minister of Finance, told GlobalRMB. The deal is expected to launch in January and will be the first Panda from a sovereign credit.
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Standard Chartered (StanChart) has cut its Americas and Europe RMB solutions teams in recent months, according to a source. The bank has recently begun a global restructuring process.
