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Capital increase follows deal to buy HSBC Malta stake
Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
Bank strives for ‘complete global offering’ in M&A and ECM but market conditions hang in the balance
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The European Bank for Reconstruction and Development’s board of directors has approved a proposal to accelerate its transition towards being a green bank, including devoting over 50% of its investments to the green economy by 2025. But it has deferred a decision on when the rest of its activities will be aligned with the Paris Agreement. -
Crédit Agricole won an appeal against the European Central Bank on Wednesday against fines levied against the treatment of some of its instruments as common equity tier one (CET1) because the central bank had provided “inadequate reasons” for penalising the French lender.
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In this round-up, Credit Suisse is reportedly seeking a bigger share in its onshore securities joint venture, Weibo’s parent Sina Corp considers delisting from Nasdaq after two decades and the former head of China’s securities regulator said easier delistings would improve the stock market.
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The head of the World Bank has, for the first time, called for parts of the sovereign debts owed by the world’s poorest countries to official bilateral creditors to be cancelled, in the face of the coronavirus’s impact.
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Axiom Alternative Investments has launched a new long/short global high yield fund, following the hire of Gilles Frisch as a portfolio manager last year, targeting the opportunities that will come through at the end of this credit cycle.
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The European Leveraged Finance Association has called for better transparency in high yield covenant packages, arguing that clarity is crucial for pricing risk. The call comes shortly after one of the largest covenant climb-downs in recent market history, when lead banks on ThyssenKrupp Elevator stripped many of the most controversial terms from the €8bn financing.
