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The private debt markets may well be regarded as the final frontier for technology’s appropriation of the world of capital flows. After all, how can such a bespoke sector — reliant on face-to-face communication to tweak and nuance deals to suit issuer and investor — ever be run by machines? But after scratching below the surface, Craig McGlashan finds several areas where the robots may well be taking over.

Specialist advisers are playing an increasingly important role in debt markets, especially the private markets. They add another layer between creditor and borrower, but issuers believe they more than pay their way, intermediating an illiquid and opaque market and making sure borrowers, some of them in the market for the first time, can achieve their goals. Debt advisers can be two ex-bankers and a telephone, or may be housed in some of the largest and grandest professional services firms on the planet. What’s the future of the industry? Owen Sanderson finds out.

Westpac Securities NZ has mandated banks for a new five year euro covered bond after finishing a roadshow this week.

The US private placement market is famous for its stability and consistency. But beneath the surface, much is changing. Last year issuance hit a record of $65bn, even though deal flow from continental Europe ebbed.

Efforts to boost the UK’s private placement market are making it easier than ever for borrowers to access non-bank finance. But for some, the UK private placement market should be reaching for greater union with its European counterparts, even as Brexit wrenches Britain and the EU further apart. David Bell reports.

London sits at the intersection of several private debt markets: the US private placement, Euro PPs, the Schuldschein, Euro medium term notes and direct lending. Each is different, but all exist in the same economic environment, in which banks are eager to lend and pricing in the public bond market is highly attractive to issuers.

Two bankers have left Deutsche Bank's insurance DCM and solutions team.

Quantitative easing has made investors’ lives hard, even outside public markets. As spread compression makes its way into private debt markets, even the most experienced buyers are finding it hard to source investments that pay enough yield.

Regular public bond issuers are finding their access to some private placement products complicated by investors’ nervous interpretations of regulation. But an eager buy-side does exist in other pockets, reports Ross Lancaster.

Al Ahli Bank of Kuwait (ABK) is on track to become the fifth bank from the Gulf state to access the dollar market this year, while Ezdan pulls off a coup for lower rated names in the sukuk market.

Cory Riverside Energy, the UK waste management and energy firm, has signed a £520m loan restructuring package, after divesting three of its four businesses since Strategic Value Partners took control of it in 2015.

Credit Bank of Moscow was on track to print its first Basel III compliant deal and had taken books of $1.7bn by Wednesday morning.