Pre-migration untagged articles

Intesa Sanpaolo and Commerzbank launched a Eu13bn sprint for capital on Wednesday, confirming well-flagged plans to raise capital in the public equity markets. The deals will set the bar for banks in lightly capitalised jurisdictions.

Supply in Europe’s high yield market keeps on coming, with four borrowers set to issue Eu1.4bn worth of deals by Friday. South African paper firm Sappi and UK healthcare company Priory Group printed Eu730m of bonds on Tuesday, and Matalan and Kion will follow soon.

The Republic of Portugal is dominating the euro sovereign market this week, with further rating downgrades increasing the likelihood that it will seek external aid before the country’s June 5 election.

The EM primary bond market is in rude health, with a plethora of companies from CEEMEA and Latin America gearing up to tap the bond markets over the next fortnight.

Mark Carney, Canada’s central bank governor, called on Saturday for a code of conduct to govern capital controls while warning against imposing punitive sanctions against countries that fail to adhere to G20 principles, reported EuroWeek’s sister publication, Emerging Markets.

Emerging markets have taken centre stage in the Swiss franc market over recent months and the topic was this week top of the agenda at the first Euromoney Swiss Franc Conference in Zurich.

First, the good news. With its demand for a further capital injection into Ireland’s four viable financial institutions, the country’s central bank hopes to draw a line under their problems.

The Inter-American Development Bank has cut exposure to asset- and mortgage-backed securities by more than half since the financial crisis, according to CFO Edward Bartholomew in an interview with EuroWeek’s sister publication, Emerging Markets.

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

FMS Wertmanagement stole the show in MTNs and CP this week, with large trades at the short end cementing its reputation as a borrower to be reckoned with, despite its short issuer history.

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

Despite the resignation of its prime minister and the likelihood of a bail-out increasing by the hour, Portugal surprisingly led a surge of peripheral MTN trades this week, printing a Eu50m seven year puttable floater on Wednesday.