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  • Philippine firm Metropolitan Bank & Trust Co has set the final terms for its Ps60bn ($1.15bn) rights issue, which will be launched next week.
  • The Futures Industry Association began its annual conference in Boca Raton, Florida, on Tuesday, with delegates assembling to discuss the challenges and opportunities facing derivatives markets 10 years after the great financial crisis.
  • More than $26bn of new issue CLOs have been priced in the year so far in the US, on top of $22.1bn of refinancing and reset deals as managers look to wring more returns from existing deals. The combined volumes in the first two months of the year are the highest in the CLO market’s 20-year history, said JP Morgan on Tuesday.
  • The US arm of UK online small business lender Funding Circle has tapped PayPal’s Bernardo Martinez for US managing director.
  • US Steel was in the US high yield bond market on Tuesday, one week after announcing it would restart a steelmaking facility in Illinois in anticipation of a boost in demand as a result of US president Donald Trump slapping a 25% tariff on imported steel.
  • PACEfunding, a California-based residential Property Assessed Clean Energy (PACE) finance firm, has mandated Natixis to lead its first ever securitization.
  • UK-based 3i Group has added three people to its office in Amsterdam and one in New York, all in its private equity team, as it plans to boost business in its core markets.
  • Public sector borrowers found buckets of dollar demand on Tuesday, as a French agency sold its largest ever benchmark in the currency and a supranational printed a trade at the upper end of its historical size range. Another supra is lined up to test whether that demand will hold on Wednesday.
  • ABS
    Lead managers have circulated initial price thoughts on BL Cards, an unusual credit card ABS backed by receivables from Belgium and Luxembourg that is selling a full capital structure.
  • The eagerly awaited European 'Covered Bond Directive' was supposed to ring-fence the quality of covered bonds by clearly defining the assets that are eligible for the cover pool. But the proposal risks diluting the quality of the product.
  • B&S Group, the Dutch consumer goods distribution specialist, has opened the books for its listing on the Amsterdam stock exchange, the second Dutch company to set a price range for its IPO this week.
  • EU finance ministers failed on Tuesday morning to reach an agreement on the so-called 'banking package', a set of rules aiming at updating and fine-tuning European banking regulation.