Top section
Top section
First exclusively Estonian securitization the European Investment Bank has supported
Finland's YIT signs €200m SLL and amends term loan
Company retains same roster of banks that provided last loan
If capital markets become roulette, sentiment will be the victim
By backing too many speculative IPOs, investment banks could threaten the whole market
First exclusively Estonian securitization the European Investment Bank has supported
Sub-sections
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With Latin America bond issuance smashing through its previous record, market participants think the peak has passed. A market tipped to turn tougher is the reason, which will make 2026 a year when issuers and bankers will have to earn every basis point, writes George Collard, with volumes expected to stay high -
Falling interest rates, returning inflows and a wave of pandemic-era redemptions mean CEEMEA bond market participants have high expectations for 2026. This optimism comes after a record-breaking year for issuance — and by quite some margin — meaning that 2025 will be a tough act to follow, writes George Collard
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A booming 2025 investment grade corporate bond market in Europe set a high bar as investors brace to pay higher premiums and shift to the belly of the curve in 2026. Meanwhile, capex, M&A and Reverse Yankees look set to keep the pipeline full, write Diana Bui and Frank Jackman
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The European FIG market rode through 2025 on high demand for credit, providing bank issuers, large and small, with extremely advantageous funding conditions. Although investors have also benefitted from strong secondary market performance, as Atanas Dinov reports, that equilibrium may change in 2026, with anticipation mounting that spreads will widen
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The CEEMEA primary bond market in 2025 shattered the record for bond issuance by some distance. Investors flocked to buy ahead of US interest rate cuts, meaning the market was open to just about every issuer. It is hard to find too many deals that were not a success, making this the pick of a very large crop
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Investment grade companies demonstrated just how much liquidity was sloshing around in the euro, dollar, sterling and Swiss franc markets with a string of large deals. But these bonds did not just stand out for the amount issued. Rather, they showed that there is not always a trade-off to be made between size and price
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The reliability of Science-Based Targets — one of the most promising systems for helping companies decarbonise — has been questioned after RWE, the German power company, was excluded by Axa, the French insurance group, for being too wedded to coal, despite having an approved SBT.
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Investors have shunned carbon-intensive and sin sectors this month. The message is clear: if they want to raise capital, companies in dirty industries need to show they are making meaningful moves towards becoming socially and environmentally responsible.
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Hundreds of things happened this week in sustainable finance. That’s normal now — it’s become a fizzing, global market which is ever-present. Anyone who predicted, say, four years ago that sustainable finance would take over the whole capital market probably feels the outcome has exceeded their expectations.
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This week 35 investors with $8.5tr of assets — many of them UK and Nordic pension funds — launched the Net Zero Investment Framework, a primer for investors wanting to decarbonise their portfolios. Faith Ward, chair of the Institutional Investors’ Group on Climate Change, answers some key questions for GlobalCapital about why the Framework is important and how it will be implemented.
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HSBC has agreed to tighten its policies on climate transition and coal funding, in response to a shareholder motion calling on it to phase out fossil fuel financing. The move underlines the power investors have to accelerate change on environmental and social issues using shareholder votes, and could raise the bar for other banks.
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The prospect of investors exerting real pressure on companies to reduce greenhouse gas emissions, including divesting from big polluters, came a step closer on Wednesday with the release of the Net Zero Investment Framework, a map to guide investors on the journey to carbon neutrality.
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Debt financing to become more sophisticated as the race to build data centres across Europe heats up
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JP Morgan sole bookrunner on first jumbo block in a month
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This week Tom Hall and Thomas Hopkins discuss how Enpal's return heated up the ABS market and take the CLO equity market's temperature
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Company's relationship banks provided the funding
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UK chancellor got the big things right in the Budget but made damaging unforced errors
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Emerging markets are particularly vulnerable to protests led by disgruntled youth
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Artificial intelligence is everywhere — but what is it doing? Capital market specialists think about it constantly, even if only because they are told to, with feelings ranging from delight to horror. Market participants are exploring myriad ways both to use AI, writes Jon Hay, and neutralise its risks
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December is a strange time to be in the capital markets. Embrace it
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This week a managing director deals with the awkwardness of their boss finding out they had been in contention for a job at another firm
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First deal of its kind more than 1.5 times subscribed
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Deal complexity, new issuer premium sees trade start more than 100bp wide of last WBS
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Gym franchise wants to refinance paper issued in 2022
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Sponsored by Islamic Development Bank (IsDB)
Sukuk market’s next chapter: Financing the future, sustainably
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
