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Sustainable finance chief leaves Nomura for opportunity in fast-growing region enthusiastic to cut emissions
Integrating banking and securities units intended to support growth
Hire in line with firm’s commitment to sustainability
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Centre right members of the European Parliament have balked at approving a proposal to change the EU’s Taxonomy of Sustainable Economic Activities so it highlights unsustainable activities. Jon Hay reports. -
Lease accounting changes known as IFRS 16 are rolling out through capital markets, with companies keen to reassure investors that, despite the new way of presenting their balance sheets, little has changed. But that’s not true for every firm and for some high yield issuers, the change represents a big loosening in covenant terms.
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Second lien loan structures are substituting in for unsecured high yield issues, as a strong bid from direct lending funds pushes prices for the product tighter. Despite wariness from many banks about the product, Goldman Sachs has been seen actively competing with private debt funds to offer second lien finance, adding to the product’s advantages for sponsors.
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Credit Suisse’s fourth quarter results showed damage from the high yield and leveraged finance market’s tantrum in the last quarter of 2018. The bank was also hit by a Canada Goose block trade gone wrong.
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Santander hires European ABS trading head – Créd Ag shuffles CIB – Liquidnet appoints president
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UBS is re-balancing its corporate finance business to end its reliance on its Financial Institutions Group with impressive results, writes David Rothnie.
