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  • EMEA loans bankers are taking some positives from developments in the wider capital markets.
  • The World Bank is beefing up its communications operations in Europe, a region with mainly donors rather than recipients. It wants to ensure that it is getting its message out to the people who ultimately fund its work.
  • The European Central Bank struck a decidedly dovish tone at its meeting on Thursday, meaning there were no nasty surprises for SSAs planning bond issues in the coming days. A French agency is on screens for a deal in dollars this Friday, while euro and dollar benchmarks are slated for next week.
  • The Basel Committee on Banking Supervision has appointed Pablo Hernández de Cos, governor of the Bank of Spain, as its new chair. He takes over as the committee looks to reflect on post-crisis regulation.
  • The EMEA IPO market might soon be revving back into life with several issuers hoping to price deals before Easter. Investors are watching two multi-billion deals particularly closely: the spin-off of VW’s truck division Traton and the flotation of Italian payments company Nexi.
  • The State of North Rhine Westphalia will be able to issue floating rate notes linked to Sonia and Sofr under its new medium-term notes’ programme, which will be released in the next few months.
  • Pearson, the UK educational publisher, has signed a $1.2bn bank facility with a novel margin link to the company’s progress in educational reach, but loans bankers say that this increasingly popular form of funding is unlikely to drag the market out of its low volume melancholy.
  • ABS
    Bank of America and Rabobank are marketing DLL UK Equipment Finance 2019-1, a sterling equipment ABS for De Lage Landen Leasing, a Rabobank subsidiary.
  • The Asian Development Bank broke two records on Thursday as it printed its biggest sterling deal to date and took non-UK SSA issuance in the currency to a record level for a half year. Supply is likely to take a breather next week due to some crucial Brexit votes in the UK Parliament, but SSA bankers are confident the market will not take long to spark back into life.
  • Emirates NBD has picked banks for a bond in the additional tier one format, aiming to be the second such deal from a Middle East bank this year.
  • The State of Qatar wowed the financial world on Wednesday with a $12bn three tranche deal that gathered a staggering $50bn of orders.
  • FIG
    The European Central Bank said on Thursday that it would launch a third series of targeted longer-term refinancing operations (TLTRO III) from September 2019, surprising market participants who expected the central bank to hold off on announcing the details of a new bank funding programme.