Latest news
Latest news
◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility
Manager tightens spread on triple-A rated notes by 23.5bp compared with the original deal
Lower loan prices offer higher equity returns but managers face rally risk once deals are priced
More articles
More articles
-
Richard Tynan has been appointed head of syndicate EMEA at RBS in London. He replaces Myles Clarke, who was named COO of RBS's new markets client board in July.
-
Boutique investment bank Exotix has hired Andreas Fessler to bolster its European team as it expands beyond its emerging market roots into traditional credit markets, writes Stefanie Linhardt.
-
Finnair, the partially state-owned Finnish airline, sold the first euro-denominated corporate bond of August on Thursday. The unrated company priced a €150m five year bond at the tight end of guidance — a result that could tempt some other Finnish corporates to the market.
-
Exchange-traded high yield funds are exerting increasing influence on the US high yield bond market, said Fitch Ratings, while dealer banks are holding smaller inventories of corporate bonds. The trend could come to Europe even though ETFs make up a smaller part of the market there.
-
Battle lines are being drawn as the US debates changes to its Bankruptcy Code with wide-reaching implications for the $1.2tr US leveraged loan market. Reformers think that too much power has passed to secured lenders, resulting in too many liquidations and not enough reorganisations. The industry, led by the Loan Syndications and Trading Association (LSTA), disputes the data and warns of higher prices for secured credit across the market.
-
The healthcare sector is proving popular in the European leveraged loan market, with two borrowers successfully closing transactions this week even though most bankers and investors are still on their summer holidays. -
High yield bonds is European fixed income investors' most favoured asset class for the third quarter in a row, according to rating agency Fitch.
-
Mizuho International has been hit by the departures of Jermaine Jarrett, head of high yield syndicate and capital markets, and Peter Din, head of high yield research. A spokesperson for Mizuho confirmed that both were on gardening leave.
-
Dealogic league tables of total revenue transactions, August 22, 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.
