French regions may find themselves under pressure to raise funding as the central government looks to save cash by reducing transfers to regional and local authorities by €11bn between 2014 and 2017. Fortunately help is at hand in the guise of a brand new issuer: Agence France Locale, which should — by agglomerating regional funding needs — be able to offer smaller regions cheaper financing than they would be able to obtain in the open market. But there are a lot more factors than just cost to consider.
Investors’ renewed confidence in the eurozone is very much a matter of trust that the currency bloc’s leaders will never let the project fail. But with anti-European Union parties looking set to perform well in this week’s European Parliament elections, how will investors respond?
The build up to Íslandsbanki’s annual Thorrablot celebrations — for the uninitiated, it’s an Icelandic midwinter festival — is always fraught with nerves, anticipation and a slightly sickly feeling at the prospect of crunching down on goats’ testicles. But this year’s shindig on Thursday night has some added spice — or, more appropriately, pickle — as it could be the last event ever.
When General Electric issued a debut $500m sukuk five years ago it did not receive a great deal of acclaim. But with the company considering another potential Islamic deal later this year, neither it nor other rumoured Western first time borrowers such as Total should fear for a bad result this time around.
Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days
Dealers of private EMTNs including self-led: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers and issues with a term of < 365 days
Dealers of structured EMTNs excluding self-led: Structured, non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, puttable FRNs and issues with a term of < 365 days
Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days
Dealers of private EMTNs including self-led: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers and issues with a term of < 365 days
Dealers of structured EMTNs including self-led: Structured, non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, puttable FRNs and issues with a term of < 365 days
Dariush Hessami,January 16, 2014
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