United States
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Citadel Securities, the market making business, has made a senior FICC sales hire from Barclays to its Chicago office. -
Cott Corp, the US-Canadian drinks maker, on Thursday sold a €450m bond to support its buyout of Eden Springs of Switzerland.
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Two new borrowers launched deals in the European high yield market on Monday, PVH and Salini Impregilo. Both are double-B rated, like most of last week’s deals.
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Law firm Allen & Overy and financial services firm Deloitte are working together on a solution to help big banks comply with regulations that are due to come into force from September and require margin to be posted on over-the-counter derivatives trades.
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US regulators are determined to press ahead with plans to impose margin rules on uncleared swaps from September despite the disadvantage this would cause US dealers, said lawyers, after the European Commission postponed its effective date until mid-2017.
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Credit Suisse took advantage of highly favourable funding conditions to take out $2bn as it took a further step towards meeting its total loss-absorbing capacity (TLAC) requirements.
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Cash continued to pour into the US high grade corporate bond market this week after Janet Yellen appeared to rule out a rate hike in June.
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A resurrection of what should have been last year’s biggest deals from Veritas and a euro deal from Altice point to a leveraged loan market that has returned to good health, writes Max Bower.
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Tumbling volatility over the past months has caused US and European corporate credit risk prices to converge, despite credit investors bracing themselves for diverging monetary policies.
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JP Morgan raised €2.5bn of two year senior floating rate notes on Tuesday, using favourable market conditions to generate a negative new issue premium.
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ANZ became the first Australia-based bank to launch a foreign currency additional tier one (AT1) this week, attracting a blowout book for the $1.5bn trade.
