Pre-migration untagged articles
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Russian banks are storming into the bond market. After Transcreditbank priced its $350m three year on Monday, Gazprombank is today finishing roadshows for a dollar benchmark. Sberbank has set price guidance on a five year benchmark at 200bp-210bp over mid-swaps, while VTB is tapping the euro market with a three year benchmark. Price guidance is 300bp area over mid-swaps. Alfa Bank has also set price talk on its dollar benchmark 144A five year put three at 9%-9.25%. How will investors cope with this onslaught of supply? Read EuroWeek on Friday to find out.
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While there is still a shortage of loans for eastern European financial institutions compared to previous years, the flow of deals has picked up in the second quarter. Russian banks are returning to market this week, including Troika Dialog and Transcreditbank, which is set to launch a $30m refinancing today. Read www.euroweek.com/loans today to see how bankers think these facilities will fare
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GE Capital hosted a golf outing at the Apawamis Golf Club in Rye, N.Y. early last week, where l00-150 loan market players were able to do some "special" bonding.
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-- Stephen Light, ceo of Xerium Technologies, on how the credit crunch affected the amendment process.
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Investors rejected what would have been the fist-ever first-lien payment-in-kind toggle loan, which was part of the financing backing the leveraged buyout of IntraLinks.
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The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week.
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Shinsei Bank expects to launch the first covered bond from Japan and Asia in the coming weeks, having this week revived the 10 year structured issue it put on ice in February.
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EXTREMELY choppy, nerve-jangling conditions were reported in the US dollar swap market this week.
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After a dearth of new issues last week the Swiss franc bond market powered back into life with its first ever publicly offered tier one deal and the largest ever corporate deal, arriving in dual tranche form.
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The spectre of the 1970s, a decade of horror and distortion in the global economy, is haunting the first years of the 21st century. As oil touches $140 a barrel, it is feared that a repeat package of low growth and high inflation lurks around the corner.
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SWF fears unfounded, Monitor Group report says
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Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, self-led deals and issues with a term of less than 365 days.