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Returning Hypo Noe benefits from having euro FIG market on its own

◆ Austrian lender's first bond issue of the year ◆ Achieves investor diversification beyond core buyers in DACH, says lead ◆ Moves pricing more than most of its past senior trades
◆ State development bank brings year’s first euro deal ◆ Long-end levels attract yield buyers ◆ ‘Encouraging’ signal for duration demand

AIIB's 'trade of the day' breaks dollar spread record

◆ Bond tightens in grey market after record Treasury level ◆ Goldilocks scenario drew investors ◆ Canadian SSAs back in dollars

Redeia shows hybrid market strength with debut EuGB deal

◆ Issuer’s first EuGB hybrid 10 times covered at peak ◆ Tight senior/sub spreads attractive for issuers... ◆ ...while solid yields entice investors
◆ State development bank brings year’s first euro deal ◆ Long-end levels attract yield buyers ◆ ‘Encouraging’ signal for duration demand
Sub-sections
  • SK Biopharmaceuticals has begun bookbuilding for its up to W959.3bn ($804.9m) IPO. It is set to be South Korea’s first listing in 2020.
  • With bondholders mobilising ahead of a debt restructuring, Ecuador’s bonds have enjoyed a strong rally on the back of the borrower's perceived goodwill to the markets. But the government faces a delicate task in executing a restructuring.
  • The months since the coronavirus outbreak have been a difficult period for the CLO market, as waves of loan downgrades and corporate bankruptcies create a turbulent environment for mangers to steer their deals through. Since March, the CLO space has seen various strategies employed by both managers and investors to mitigate the effects of the crisis. The pandemic has been a period of distress, but could also be a chance for players in the market to differentiate themselves and stand out, according to Allison Salas, CLO research analyst at DWS Investment Management. Salas spoke with GlobalCapital’s Max Adams on the evolution of CLO documentation, manager strategies and the implications of the Covid-19 outbreak for Libor transition.