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Top section
My start-up is a let-down
I thought the grass would be greener in fintech land, but it’s patchy and dreary
◆ Fragile US-Iran peace gives risk assets an excuse to rally ◆ Canaries debuts amid clash over Spanish regionals' run ◆ Dollars run dry as borrowers eye late June pre-funding, summer lull
Snam takes €1.5bn with EuGB and SLB pair
◆ Italian issuer pairs two sustainable formats ◆ Trade hits size targets ◆ Tight price tests investors' limits
Intesa returns to senior market after making Monte dei Paschi takeover bid
◆ First deal to release IPTs on busy day ◆ MPS M&A bid had 'no impact' on deal, says lead ◆ Priced flat to fair value
◆ Fragile US-Iran peace gives risk assets an excuse to rally ◆ Canaries debuts amid clash over Spanish regionals' run ◆ Dollars run dry as borrowers eye late June pre-funding, summer lull
Sub-sections
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French company diversifies funding after inaugural dollar deal last year -
Issuance beyond 15 years could return if rates stabilise
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Kookmin Bank goes digital in dollars, yen issuance ahead of BoJ, as Volkswagen meets euro demand
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◆ Wide range of investors buy highly rated bonds ◆ DNB achieves one of the tightest spreads since Covid-era QE days of 2021 ◆ SpareBank 1 SMN extends euro senior curve by two years
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◆ Fair value estimated ◆ 'No fatigue' despite ongoing supply ◆ Increasing international investor base
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◆ Stellantis sees stronger demand for shorter leg of €1.25bn dual trancher ◆ RCI Banque prices €750m 5.2 year tightly ◆ Ford finds demand in short end sterling
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If UK pension savers knew how their money was invested, funds would be more inclined to invest exclusively in environmental, social and governance (ESG) assets. So argues Richard Curtis, the screenwriter, director and co-founder of Comic Relief. He has launched a public campaign, Make My Money Matter, to pressure UK pension funds to invest more sustainably.
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As tensions between Argentina and its largest bondholders climbed this week, the government’s prize asset, oil firm YPF, differentiated itself with a debt exchange that, according to rating agencies, does not punish creditors — unlike the sovereign’s proposals.
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Environmental, social and governance investors have been patting themselves on the back this year because their funds have tended to outperform during the coronavirus crisis. But a San Francisco hedge fund believes they are doing a poor job of shielding investors from the general risk of the stockmarket and more quantitative methods would improve the outcome.
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A survey by Deutsche Bank this week challenged the consensus that investors' interest in environmental, social and governance funds has been intensified by the coronavirus crisis. On the contrary, it argues: appetite has weakened.
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An Indonesian palm oil company has become the latest to fall victim to rising worries among loans bankers about government support. The company missed a payment last week, after bankers rejected an earlier covenant waiver request. Pan Yue reports.
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A long-running attempt by Chinese oil company Hilong Holding to complete an exchange offer on a dollar bond has failed, after it confirmed a default this week. The situation has caused analysts to speculate on how it could have executed its deal better. Alice Huang reports.
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International Finance Corp’s drive to introduce development finance to the CLO market is advancing. Its second deal of $509m had more investors, more tranches and better pricing, supporting its rapid growth
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Investors were eager to tender their bonds despite initial resistance
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Increased investor interest in utilities hybrids could bring down subordination premium, says SSE treasurer
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Divisions deepen over multilateral development banks’ climate commitments
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◆ UK utility prints €1.3bn dual trancher ◆ Issuer skips guidance as it masses orders north of €10bn ◆ Longer call leg draws stronger demand
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Inclusion of a variable rate instrument was not acceptable to official creditors
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Markets are looking to the authorities to simplify blockchain issues, but they may not have the purest motives
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Several banks are reining in their appetite for warehouse lending
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US drug company Eli Lilly jolted the dollar market awake on Wednesday with an eight-part jumbo trade to fund two recent acquisitions
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The US dollar market buoyant this week despite escalating hostilities in the Middle East
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Redwood will be a repeat issuer
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Sponsored by Crédit Agricole CIB
Syndicated Loan Awards 2025: Crédit Agricole CIB: Driving France’s loan market and ESG transition
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Sponsored by Islamic Development Bank (IsDB)
Sukuk market’s next chapter: Financing the future, sustainably
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
