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  • Disruption in Italian politics has punished the BTP market this week as the country heads towards a possible autumn general election.
  • China IT company Chinasoft International has returned to the syndicated loan market after six years, seeking a HK$1bn ($127m) facility.
  • Zhenro Properties Group returned to the dollar bond market for the seventh time this year on Tuesday, tapping one of its March transactions for an additional $110m. But the market presented a whole different set of problems for the borrower this time round.
  • The People’s Bank of China (PBoC) bagged Rmb30bn ($4.3bn) through a two tranche trade on Wednesday. It was not the first time the issuer picked a curious time to sell Bills.
  • UniCredit has picked an internal candidate to be its global head of natural resources, choosing Eriks Atvars, currently global head of structured trade and export finance (STEF).
  • Indonesian state owned pharmaceutical company Kimia Farma is planning to raise capital through a rights issue of new shares, according to a stock exchange filing.
  • HSBC has launched a personal lending platform in partnership with Amount, the bank partnership business unit of marketplace loan ABS issuer Avant. The move is the latest example of banks going online, often partnering with fintech firms, to tap into the consumer finance segment.
  • A Barcelona-headquartered paper company wants to focus on higher-margin specialist papers but it is floundering to find the money needed for a turn-around after the European Union delivered a blow that sent its bonds sliding.
  • Burford Capital, the litigation funder, is under pressure over how it accounts for an obscure type of asset and how it finances its business using debt. In many respects it is a unique case, but it is a debacle fuelled by quantitative easing. With more of that on the way, pushing investors into ever more esoteric asset classes in the quest for yield, there will be plenty more businesses under scrutiny.
  • Recession fears are rising again as GDP slows, global trade tensions rise and overvalued stock markets become more volatile. Big tech should take advantage of high price to earnings ratios to raise equity capital now and to prepare for tougher days ahead.
  • ING has launched the world’s first sustainability improvement derivative, a derivative with a credit spread that is linked to sustainability performance. The trade comes amid growing demand for environmental, social and governance derivatives products.
  • The Free Hanseatic City of Bremen priced a €750m 2049 trade on Tuesday, stretching out its curve by 10 years to become the second German SSA bond issuer in as many weeks to borrow for longer in able to offer a positive yield to investors.