Pre-migration untagged articles

-- Scott Kostyra, senior v.p., head of business development at ACBS ClearPar, on secondary volume continuing to increase even if primary issuance holds steady.

HCA's $2.25 billion term loan "A" and $8.8 billion term loan "B" accounted for 80% of trading in the loan market the previous week.

Some market players got a chance to head back to Edinburgh for a night when RBS hosted its annual St. Andrew's Night last Thursday at Cipriani.

Dexia Municipal Agency was able to execute a Eu1.5bn three year obligations foncières issue swiftly this week, with attractive price guidance of the 3bp through mid-swaps area offering a pick-up versus recent French and German supply that ensured orders came in fast.

Frequent niche currency borrowers European Investment Bank and General Electric were the only issuers able to muster enough support to bring deals this week.

Eurohypo priced a Eu2.5bn five year jumbo mortgage Pfandbrief issue on Tuesday at 2bp over mid-swaps demonstrating the wider differential between mortgage and public sector Pfandbriefe since the repricing of the covered bond market.

Goldman Sachs priced Eurocredit CLO VIII last Friday. The Eu636m senior secured CLO is managed by Intermediate Capital Managers.

IM Cedulas 12, a Eu1.05bn two year issue, this week showed that while the cédulas market is open, it is barely ajar, after the issue attracted only Eu1.2bn of orders in a day of bookbuilding despite price guidance of the 10bp over mid-swaps area.

Satago CDPC is the first credit derivative product company to be given definitive counterparty ratings, Aaa, by Moody’s since the summer. The vehicle is sponsored and arranged by London Diversified Fund Management.

With industry veterans saying that low ratings should be no obstacle to covered bond status and the rating agencies holding out the promise of piercing the sovereign ceiling, Turkish issuers were last Friday (November 9) in bullish mood about their chances at the 11th Central European Covered Bond Conference.