Pre-migration untagged articles

Word has got back to us about some badly behaved headhunters running around the MTN market at the moment.

Landesbank Baden-W¨¹rttemberg underlined the strength of the covered bond market this week with the launch of what is believed to be the tightest ever jumbo, a Eu1.25bn four year public sector Pfandbrief priced at 7.5bp through mid-swaps.

The Republic of Italy¡¯s Eu1bn 50 year inflation-linked bond, the first ever euro denominated linker at this maturity, sparked many debates and a degree of envy among investment bankers when it became known this week.

The iTraxx Crossover Index widened early this week after a period of remorseless rallying, but the softness was short lived. It was quoted as 194bp/195bp yesterday (Thursday) afternoon, exactly in line with levels seen a week ago.

In the first of a new series of interviews with leading figures in the capital markets, Toby Fildes talks to Jean-Pierre Mustier, CEO of corporate and investment banking at Société Générale in London, about the bank’s strategy.

Cinven, the UK private equity group, has angered several institutional investors in the loan market by proposing to refinance at more aggressive terms the Eu2.8bn loan it took out to finance the combination of Numericable, Altice and UPC France, three French cable television groups.

Are you, too, becoming more than slightly irritated by the confusing signals coming out of Citigroup? Why doesn't Citigroup try to become more like Bank of America, which doesn't make any fuss and gives the impression of knowing where and how it wishes to proceed?

Dresdner Bank has issued the first range accrual note in the Italian retail market since the abolition at the end of last week of Banca d'Italia's Article 129, which banned sales of the product. Italy has been one of the biggest markets for structured notes in recent years, but only a limited menu of products has been available.

The Republic of Ecuador's CDS narrowed then widened this week as emerging markets traders in New York remained confused about what the new government of President Rafael Correa will do with regard to debt restructuring as the coupon payment of February 15 looms.

The European Investment Bank's $3bn three year global bond encountered massive turbulence when it was marketed on Monday, as Treasuries continued to sell off and swap spreads widened dramatically.