GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Pre-migration untagged articles

  • Like the cancellation of the Fade deal last week, this week’s disappointing dollar trade from NWB will do little to hinder the progress that SSA borrowers have made so far this year.
  • Dealers of private EMTNs: Non-syndicated deals for less than or equal to €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of less than 365 days
  • Domestic hunger for a pick-up over Spanish government bonds prompted the Chartered Community of Navarre to sell its first MTN in seven months. The issuer sold a three year note at 100bp over Bonos on Thursday.
  • Sparebanken Vest Boligkreditt (SVB) uncovered €1.6bn of demand in one hour and priced the tightest Norwegian covered bond this year on Tuesday.
  • The CEEMEA bond market is stretching its limbs after its winter hibernation, with a broad variety of issuers coming back into play in what was the busiest week for the market since the first half of last year.
  • After their Chinese New Year break, central bank investors are back to work in the sovereign, supranational and agency bond market, stocking up on ultra-high grade credits in dollars.
  • Italian and Spanish banks are demonstrating the importance they place on defending market access, despite the European Central Bank having offered cheap three year cash in its first Long-Term Refinancing Operation in December, as they venture into benchmark issuance after a prolonged absence.
  • As Europe’s investment grade corporate bond market completes a highly productive and encouraging January, attention turns to whether the wave of companies that sought to neutralise funding risk by coming early in 2012 will be followed by further waves.
  • With Asia out for Chinese New Year, this week was the prime opportunity to assess risk appetite from European investors, and the results were not wholly encouraging. While market conditions are more stable than last year, they are still far from robust.
  • German Länder are being hampered in their attempts to extend the duration of their funding by investors who refuse to entertain longer dated investments as they look for a home for their LTRO cash.
  • Dealers of private EMTNs: Non-syndicated deals for less than €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of less than 365 days
  • Sweden sold more than $3bn of commercial paper this week as higher borrowing requirements during December and January put pressure on it to issue CP to manage liquidity.