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Top section

Top section

Heathrow lands in Swiss francs, Austria extends green curve

International borrowers dominate this week's flow in the currency
Gulf AT1 deluge will be a challenge, with or without drone strikes

Easing won't be easy for new Fed boss

Lower rates will need lower inflation — and an FOMC consensus

CLOs prop up loan prices, betting on short Iran war

Leveraged loan prices have rallied from their post-war dip, with CLO demand remaining strong despite subdued LBO activity
Gulf AT1 deluge will be a challenge, with or without drone strikes
Sub-sections
  • Merlin Entertainments, one of last year’s biggest take-privates, has some investors worried about whether it will seek new financing to get it through the coronavirus lockdowns that have shuttered the theme park business’s main sites. Any new financing could weaken the security package for existing lenders and bondholders — though liquidity to get through the lockdowns is essential, writes Owen Sanderson.
  • SSA
    The SSA market appears to be well and truly up and running, with four SSA borrowers hitting screens for new bonds in euros on Thursday, pulling in an impressive €11.5bn with deals from three to 30 years
  • Zur Rose, a Swiss online pharmacy group, revived the primary equity-linked bond market in Europe this week, issuing a debut Sfr175m five year convertible bond as demand for its services increases amid the Covid-19 crisis.