North America

Coty, one of the world’s largest beauty companies and owner of brands including Calvin Klein and Marc Jacobs, is arranging a $1bn term loan 'B'.

The dollar market has burst into life after post-Fed with three European issuers tapping the currency in two days as the euro market drifts without direction.

Trading for the Chicago Board Options Exchange's equity volatility futures expanded rapidly in recent weeks as investors girded for a possible rate hike from the Federal Reserve.

European FIG issuance is expected to resume next week after the Federal Open Market Committee decided against raising interest rates on Thursday. Borrowers had approached the announcement with caution, but steady rates should allow normal trading to resume.

Bankers are preparing for a torrent of dollar high grade issuance after the US Federal Reserve voted to keep rates on hold on Thursday.

Buy and sell side credit traders expressed disappointment on Thursday, after the US Federal Reserve elected to keep interest rates on hold.

As derivatives markets girded for an FOMC announcement on Thursday, some traders said they were exhausted with speculation about the timing of a hike.

Covered bond issuers failed to take heed of poor market conditions and, just like lemmings, followed one another with poorly performing deals this week.

There was speculation this week among credit market participants that a recent high profile US legal settlement could open the door for a wider array of credit default swap clearing houses and exchanges. But firms at the heart of the battle refused to be drawn on whether the outcome could change the structure of the market.

Equity capital markets bankers are looking forward to a busy autumn season of deals in Europe, now that the Federal Open Market Committee’s much-anticipated interest rate decision is out of the way. Deals that had been kept back are now likely to be announced next week.

Indian pharmaceutical companies are creating a buzz in the loan market by seeking debt to fund outbound acquisitions. While other sectors in the country are yet to kick off such spending in a big way, the pharmaceutical industry has been an exception, and bankers are hoping for more opportunities to finance purchases. Shruti Chaturvedi reports.

The US risks becoming “incredibly isolated” in its approach to securitization regulation, as Europe and potentially other regions implement standards for high quality securitization, delegates at IMN’s ABS East conference heard.