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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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The European Central Bank (ECB) gave lenders even more of an incentive to use its Targeted Longer-Term Refinancing Operations (TLTRO) this week, dropping the potential rate of funding down to minus 1%. But the unveiling of a new unconditional lending scheme set tongues wagging, with market participants debating which banks might use the money and what they might put it towards, writes Tyler Davies. -
Funding needs of regions across Europe are expected to rise this year as borrowers fund responses to the coronavirus pandemic. Spanish and German regions in particular will face heavier borrowing requirements.
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Lee Buchheit is a veteran of sovereign debt restructuring and is considered by many to be a world expert in the field. He has worked on debt restructuring among many of the emerging markets countries, including Argentina, Greece and Venezuela. GlobalCapital caught up with him this week to discuss the debt crisis gripping the EM universe, and how private sector creditors should approach requests for debt standstills.
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Corporate bond market participants are trying to decipher what the market will look like once lockdowns start lifting across Europe. A hierarchy of industries is forming in terms of access to capital markets, with those from a handful of major global sectors expected to remain shut out for a long while yet. Mike Turner reports.
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Non-performing loan securitizations are expected to decrease by up to 70% this year in Italy, with little activity expected across the rest of Europe in the wake of the coronavirus lockdowns. But 2021 will see banks looking to securitize the next generation of defaulted loans, rating agencies say.
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Norwegian Air Shuttle improved the terms of an offer to bondholders for a second time this week, just hours before the deadline for its creditors to agree on a restructuring plan that it hopes will eventually unlock a state rescue.
