Pre-migration untagged articles
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The US's red-hot hybrid capital securities market was knocked sideways this week when the National Association of Insurance Commissioners, which regulates how insurance companies invest, suddenly and inexplicably decided to redesignate one of the most debt-like structures as common equity.
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Research published last week by Merrill Lynch, claiming that Icelandic banks were relying on front-loaded funding which made them particularly vulnerable to shifts in confidence, continued to plague the country's financial sector this week.
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Anglo Irish Bank held its annual Cheltenham races shindig this week. We hear that UBS's Stefan Boehm, Nomura's Gayle Turner and Commerzbank's Amaury Gosse were among the lucky ones to go this year. For those of you not familiar with the form at the races, here's a helpful pointer from Amaury: "They invite dealers to place bets on weird four-legged animals called horses. I have no idea how it works but it's fun, and I even won money last year!"
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The European market for credit default swaps referencing leveraged loans is expected to boom once standardised documentation has been finalised in the next few days.
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The European market for credit default swaps referencing leveraged loans is expected to boom once standardised documentation has been finalised in the next few days.
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The European Investment Bank (EIB) launched the first ever international Namibian dollar bond issue this week. It was a synthetic N$250m five year deal, paying a coupon of 7.75%. WestLB lead managed the trade, which was sold to specialist emerging markets accounts in Europe.
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UK-based Nationwide Building Society's securities arbitrage programme, Cobbler Funding, has had its limit increased from $2bn to $4bn.
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The Republic of Portugal sold its longest government bond this week, a Eu3bn 30 year Obrigacoes do Tesouro — extending their yield curve from 2021 to 2037.