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Calendar quirk could keep issuance going in December
◆ Praemia refis at a tighter coupon ◆ Schneider lands tight at the short end ◆ Minimal concessions needed
French biotech seeks to accelerate cancer vaccine program
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Norwegian Air Shuttle is close to receiving vital loan guarantees from Norway, as shareholders voted through a near $1bn-equivalent debt to equity swap from bondholders and aircraft lessors. -
Some banks in the eurozone tightened their lending standards in the first quarter of 2020 as the coronavirus pandemic spread across the globe, even as loan demand surged, according to a European Central Bank survey that provides the first systematic evidence on the subject.
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Three out of four bondholder groups have voted in favour of Norwegian Air Shuttle’s rescue package, but the deal is stuck on the plans for the issuer's euro secured notes, which only won a 62% approval rate — below the two-thirds majority needed.
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Unédic, the French agency responsible for providing the country's unemployed with social benefits, has had to ramp up its borrowing programme for 2021, thanks to the impact of the coronavirus pandemic.
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The UK Municipal Bonds Agency has announced the two first councils that will take part in its pooled issuance scheme, although the bonds themselves may well not be issued before the summer.
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Lloyds Bank has got most of its covered bond and senior funding out of the way already this year — ideal, given the threat of the coronavirus pandemic to both bond markets and the wider economy. But the bank has also been busy optimising its capital stack, which should support its lending just when it is most needed.
