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State-owned bank Spuerkeess has not indicated when it will issue its first bond
ESG issuance will not disappear and some of the decline is due to market volatility
JP Morgan overtakes HSBC to go top for the region
Highly anticipated report did not mention future role of AT1 capital
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In this round up, China floated rare earth exports as a weapon in its trade war with the US, May’s PMI fell across the board and the People’s Bank of China (PBoC) activated a fund to protect domestic depositors’ savings -
Eurobank has securitized a €2bn portfolio of non-performing mortgages, ahead of the likely development of a Greek version of the Italian guarantee scheme for senior tranches of NPL deals.
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Equity investors welcomed the prospects of elections in Greece, sending bank stocks up 25% this week. But with banks in the country struggling with non-performing exposures (NPE), the debt market is unlikely to see a change in negative sentiment, said FIG bankers.
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Chinese authorities took over Baoshang Bank this week, the first time the state has taken control of a financial institution in two decades. Despite the central bank promising to guarantee most deposits held by Baoshang, yields on similarly rated banks’ outstanding short-term debt jumped as issuance volumes tumbled — leading the central bank to take the ‘unusual’ move of injecting liquidity into the market for three consecutive days. Rebecca Feng reports.
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The Hong Kong financial regulator has fined China Merchants Securities’ local arm for breaching its IPO code of conduct while working on the listing of China Metal Recycling.
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US investment research firm Morningstar has agreed to buy credit ratings agency DBRS for $669m, in a move that will expand its business in this area beyond the US. The deal will be partially backed by a new bank credit facility.
