Pre-migration untagged articles

The World Bank sold a $300m three year floating rate "green bond" to California State through SEB last week. Those involved in the deal, the proceeds of which will be invested in environmentally friendly projects, expect many similar deals to follow. The deal settled last Friday.

Just over Eu500m was raised by French covered bond issuers through a series of taps this week, but no new jumbos emerged, meaning that April drew to a close without a single new benchmark all month long.

A shortage of supply of corporate paper in the European commercial paper markets means companies that do issue can achieve ever-tighter spreads. Irregular issuers in particular are enjoying high demand and tight pricing.

Corporate demand was again healthy this week and persistent enquiry for these names, which started at the beginning of the year, is finally converting to trades.

Deutsche Bank posted better-than-expected first quarter results this week, announcing a net profit of Eu1.19bn driven by a strong performance in investment banking particularly in revenues from its fixed income operations in the last three months.

Fitch has lowered the Discontinuity Factors (D-Factors) it assigns seven UK Regulated Covered Bond programmes in light of the country’s year-old legislation, making them more resilient against a downgrade of the issuer.

The European Investment Bank (EIB) has bolstered the reopening Kangaroo market by adding A$500m to its August 2013 deal at a spread of plus 134bp. The Commonwealth Bank of Australia, RBC Capital Markets and TD Securities led what is only the second Kangaroo deal since the market reopened last week.

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.

Several sovereign issuers sold large tickets in the European commercial paper market this week, mostly in dollars. Some attributed the activity to the basis swap rate available.

Pfandbriefzentrale der schweizerischen Kantonalbanken on Wednesday issued the first Swiss Pfandbrief deal to be priced through mid-swaps this year.

JPMorgan held a lender call to discuss an amendment and extension of Delphi Corp.'s debtor-in-possession loan after an exit plan was foiled when Appaloosa Management dropped out of an equity agreement.

With collateralized loan obligations and hedge funds running for cover, nonbank buyers of loans are generally scarce.