◆ Infrequent issuers achieve tight pricing... ◆ ...but lose a third of orders ◆ Investors may demand more NIP on deals from next week

Deals price tightly to Western European peers, with high-spread Icelandic banks performing the most

The country is one of the most vulnerable in EM to energy price shocks

◆ ING brings its first euro capital trade of 2026 ◆ Fair value debated ◆ ING's and Intesa's tier two deals were "not a competition"

◆ Mercedes-Benz prints its first euro public deal of 2026 ◆ Traton's debut green bond pays small NIP ◆ Both issuers tapped euro private placements this year

The winning institutions and individuals will be revealed at the awards dinner on June 17 in London

Artificial intelligence is changing the investment banking game. But banks are divided on whether to cut costs or try and win more deals

The US bank is showing its global credentials at a time of increased transatlantic tensions but European banks are equal to the challenge

FIG issuers have shown that investors are ready to absorb all the supply that comes their way

Investor tells GlobalCapital it liked the portfolio’s diversity, data depth and sustainability impact

Bank’s €1bn transaction is most granular so far and found new buyers

World Bank-managed issuer taps capital markets to accelerate donor pledges into Gavi vaccine programmes

AfDB hopes to launch multi-issuer securitization this year

Deal liberates capital and tempts investors to take new frontier market risk

◆ First dollar benchmark from World Bank since October 2025 ◆ 'Remarkable' size and spread achieved ◆ IDA jumps through hoops to issue SEC exempt deal

New law expected to accelerate the dominance of professional landlords

Trade backed by lease, power purchase agreements as sector navigates regulatory changes

Nigeria plans a total return swap, following peers on the continent in the last 12 months

Growing worries about inflation and interest rate rises not putting investors off EM debt, yet

◆ British lender fixed spread and deal size from outset ◆ Order book closed at over two times the deal size ◆ Fixing terms enabled faster execution, the lender said

◆ Sterling trade was lender's third tranche of covereds this year ◆ 48bp was in line with fair value, a banker said ◆ Santander UK's first sterling covered since May 2025

Commercial real estate has been one of the hardest hit sectors during the Covid-19 pandemic. The images of shuttered shops and empty offices are almost as emblematic of the Covid crisis as facemasks and stay-at-home warnings. Although there is hope for a recovery in issuance led by the red-hot growth in logistics sites, the outlook is uncertain given that underlying values of many properties backing existing CMBS remain unknown. Sam Kerr reports.

In mid-May GlobalCapital convened representatives of three RMBS issuers with different business models and approaches for a wide-ranging discussion about the state of the UK mortgage markets, funding strategies, and much more. Kensington is the most frequent issuer in European RMBS, with a track record stretching back to 1995, and more than £10bn of assets under management, including about £6bn of servicing mandates. LendInvest and Habito are fintech lenders, with LendInvest originating bridging loans and buy-to-let, funded through securitizations (LendInvest has completed two public deals so far), retail bonds, funds, and private capital, including a £500m partnership with JP Morgan. Habito mixes technology-enabled mortgage broking with its own buy-to-let originations, funded through Citi’s securitization shelf, and has recently launched the first long-term (up to 40 years) fixed rate mortgage product in the UK, funded through a partnership with CarVal Investors.

AstraZeneca, the UK drug company, showed the eager demand for merger and acquisition financings this week when it achieved ultra-tight pricing on a $7bn bond issue to fund its acquisition of US biotech firm Alexion Pharmaceuticals.