Pre-migration untagged articles

Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of less than 365 days.

CIF Euromortgage on Wednesday priced the biggest covered bond since the collapse of Lehman Brothers on the back of the strongest show of support from foreign investors for a jumbo issued out of France or Germany this year.

Banco Popular Español on Monday priced the first jumbo covered bond since last week’s announcement by the European Central Bank of details of its covered bond purchase programme.

The volume of sovereign and supranational trades issued in the European commercial paper market fell again this week as investors spurned the very tight levels on this type of paper.

A tightening of top names and back-up in yields allowed Rentenbank and Comunidad de Madrid to launch benchmark deals in Swiss francs this week, while covered bonds also put themselves back on the agenda.

Sales of commercial paper to the Bank of England’s Asset Purchase Facility totalled £458m in the week ending June 11 2009, the Bank said. It is the fourth highest weekly total in the fund’s 17-week history, and follows last week’s low £85m total. But the total held by the fund still declined from £2.13bn last week to £2.07bn. The fund passed the three month mark last month and it dropped the three month maturity requirement in late April to allow purchases of CP with any maturity between one week and three months. This is the third week in its history that the facility’s holdings have fallen. The highest volume held by the fund was £2.36bn on April 23.

Shades of Brown 1

The Bank of England this week trained its sights on the asset backed commercial paper market as it outlined plans to use the firepower of its Asset Purchase Facility to support the provision of working capital to companies operating in the UK.

Commerzbank has launched a debt restructuring advisory business based in Frankfurt, following the path of European rivals.

US dollar swap spreads have tightened sharply only two weeks after they surged wider in a wave of paying by convexity hedgers.