Pre-migration untagged articles
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Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days
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Since the ECB unveiled the Outright Monetary Transactions (OMT) scheme last autumn, peripheral bond yields have enjoyed a spectacular rally and the spectre of an Italian or Spanish bailout has receded. The prospect of earning decent returns from those countries’ bonds is receding at a similar rate. That the Bundesbank has raised objections to the OMT scheme should not reverse that trend. -
Spanish regional credits — including super-rare issuer Institut Català de Finances — took advantage of their sovereign’s plummeting yields to place a series of privately placed deals this week.
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Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days
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Results in Barclays’ investment bank bucked the group’s overall trend in the first quarter of this year, showing an 11% increase in pre-tax profits to £1.3bn.
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The European Stability Mechanism (ESM) has laid out its funding plans for the rest of the year, including how many benchmark trades it plans to issue. The funds will go towards refinancing debt taken on for the Spanish bank bail-out, as well as part of an expected €9bn to raise for Cyprus.
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Demand for credit is baking hot. Italy’s 10 year yield has traded below 4% for the first time since 2010. For the third time this year, the Markit iTraxx Europe Main index is pushing down towards the 100bp mark.
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Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days
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Covered bond taps need greater transparency, the European Covered Bond Council and Association for Financial Markets in Europe said on Thursday. The two industry bodies have come up with a joint plan to tackle the problem.
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Mitsubishi UFJ Securities has continued the expansion of its international investment banking business with the appointment of a chief executive for its US operations.
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Russia’s export credit agency (ECA) Exiar has teamed up with VTB Bank to provide financing totalling at least Rb100bn ($3.12bn) to Russian exporters.
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EuroWeek understands that Allegra Berman, previously co-head of European debt capital markets at UBS, is joining HSBC in London as global head of public sector banking. She replaces Jeff Diehl who is returning to the US.
