SSAs

  • Citi sets up unit to advise governments on digitalisation

    Citi sets up unit to advise governments on digitalisation

    Naveed Sultan will develop and lead a new digital policy, strategy and advisory practice for governments, corporates and financial institutions at Citi, and has been appointed chairman in the bank's institutional clients group (ICG).

    09.45 AM
  • What better time to expand the IFFIm model

    What better time to expand the IFFIm model

    Take advantage of low borrowing rates to enact ambitious social programmes. That is economists' message to governments in the developed world right now. The message could also apply elsewhere.

    29 Oct 2020

  • Dollar market dominated by defensive deals

    The dollar market has kept up a respectable pace of issuance this week, pumping out small deals at the short end of the curve catering to investors’ preference for defensive transactions.

    29 Oct 2020

  • IFFIm launches three year vaccine bond

    International Finance Facility for Immunisation (IFFIm) hit the market on Thursday with a $500m three year no-grow — its first dollar syndication since 2017.

    29 Oct 2020
  • Capital markets pray for decisive US election victory

    Capital markets pray for decisive US election victory

    The US presidential election is next week but, unlike the rest of the world, capital markets professionals are not rooting for Joe Biden or the incumbent, Donald Trump, to win. Instead, they just want a clear result that will spur issuance for the rest of the year. Sam Kerr, Mike Turner, Lewis McLellan, Mariam Meskin, Frank Jackman and Aidan Gregory report.

    29 Oct 2020
  • Lugano sells rare ultra-long Swissie deal

    Lugano sells rare ultra-long Swissie deal

    THE CITY of Lugano sold a bond that has pushed the Swiss franc curve out to its farthest point this week, locking in a coupon of 0.15% for 50 years, following a similar deal for Bern last month.

    29 Oct 2020

  • Agora snags Estlin as adviser

    Peter Estlin, a former lord mayor of the City of London and group financial controller at Barclays, has joined Digital Debt Capital Markets, the company behind the Agora software, the start-up founded by fellow Barclays alumnus and bond market veteran, Charlie Berman.

    29 Oct 2020
  • IFFIm hits screens ahead of US election

    IFFIm hits screens ahead of US election

    The International Finance Facility for Immunisation is lining up its first dollar benchmark since April 2019, selling into a market crowded with borrowers looking for short dated taps.

    28 Oct 2020
  • Flurry of taps in euros as ECB approaches

    Flurry of taps in euros as ECB approaches

    Four borrowers hit the euro market on Wednesday, focusing on taps and small new lines. The issuers are seizing their opportunity to sell before this week's European Central Bank press conference and nest week's US elections.

    28 Oct 2020
  • ADB trades on looming Aussie QE

    ADB trades on looming Aussie QE

    Asian Development Bank printed the largest SSA kangaroo benchmark of the year on Tuesday, taking advantage of a brief issuance window and capitalising on expectations of the start of quantitative easing in Australia.

    28 Oct 2020
  • Guest view: The ECB can axe Alberta bonds’ repo eligibility

    Guest view: The ECB can axe Alberta bonds’ repo eligibility

    GlobalCapital has argued that it is not the ECB’s job to exclude individual borrowers’ bonds from its list of repo-eligible securities on environmental grounds, in response to our call for the Province of Alberta’s debt to be removed from its list of eligible marketable assets (EMA). We maintain that the ECB has plenty of justification to exclude this borrower.

    28 Oct 2020
  • ECB can't pick and choose, even for the environment

    ECB can't pick and choose, even for the environment

    An ESG think tank believes that the European Central Bank should drop Alberta’s euro bonds from its list of eligible marketable assets, as a punishment for its support for polluting industries. But while it is a laudable aim, it is not practicable.

    27 Oct 2020
  • Scandie SSA issuers plump for short dated dollars

    Scandie SSA issuers plump for short dated dollars

    Supply in the SSA dollar market is clustered at the short end of the curve, as borrowers focus on defensive tenors ahead of the upcoming US election. Kommuninvest landed a sizeable benchmark on Tuesday, while Kommunalbanken will follow suit on Wednesday.

    27 Oct 2020

FIG

  • Santander looks to switch AT1 pair to Sonia

    Santander looks to switch AT1 pair to Sonia

    Santander began phasing Libor out of two of its outstanding additional tier (AT1) one notes this week, having appointed NatWest Markets to lead the process to restructure the bonds to reference Sonia.

    01.00 PM
  • Citi sets up unit to advise governments on digitalisation

    Citi sets up unit to advise governments on digitalisation

    Naveed Sultan will develop and lead a new digital policy, strategy and advisory practice for governments, corporates and financial institutions at Citi, and has been appointed chairman in the bank's institutional clients group (ICG).

    09.45 AM
  • Perenna applies to become first pure UK covered bond bank

    Perenna applies to become first pure UK covered bond bank

    Perenna has applied to become the first UK covered bond bank and plans to issue 30 year fixed rate mortgages next year, using the Danish covered bond system that limits mismatches between the terms of the mortgages and the bonds that fund them.

    09.00 AM
  • Capital markets pray for decisive US election victory

    Capital markets pray for decisive US election victory

    The US presidential election is next week but, unlike the rest of the world, capital markets professionals are not rooting for Joe Biden or the incumbent, Donald Trump, to win. Instead, they just want a clear result that will spur issuance for the rest of the year. Sam Kerr, Mike Turner, Lewis McLellan, Mariam Meskin, Frank Jackman and Aidan Gregory report.

    29 Oct 2020
  • Nord/LB Lux’s LCR status to be grandfathered

    Nord/LB Lux’s LCR status to be grandfathered

    Covered bonds issued by NordLB’s Luxembourg subsidiary are set to become ineligible for the liquidity coverage ratio from July 2022, according to a draft amendment published this week by the European Commission.

    29 Oct 2020
  • ECM fees triple at Credit Suisse

    ECM fees triple at Credit Suisse

    Fee growth from Credit Suisse's equity capital markets business supported its newly established investment bank, its third quarter results on Thursday showed.

    29 Oct 2020
  • Covered Bond Directive implementation 'a bit behind'

    Covered Bond Directive implementation 'a bit behind'

    Only a few countries have made headway in the implementation of the Covered Bond Directive and, with just a few months left, there are growing concerns that its transposition will be delayed, said bankers attending a virtual event sponsored by the European Covered Bond Council (ECBC) on Wednesday.

    29 Oct 2020
  • Covered bonds set for safety bets major investor

    Covered bonds set for safety bets major investor

    The covered bond supply outlook is dismal and could worsen but that means spreads are well protected, even if competing supply in the rates market from the EU ramps up, a major investor told GlobalCapital on Wednesday.

    28 Oct 2020
  • Denmark’s banks set for muted year-end in primary

    Denmark’s banks set for muted year-end in primary

    Denmark’s banks are set for a quiet end to the year, according to bankers, as changes made to their minimum requirements for own funds and eligible liabilities (MREL) have taken the pressure off of funding.

    28 Oct 2020
  • Deutsche's investment bank makes almost €1bn, again

    Deutsche's investment bank makes almost €1bn, again

    Deutsche Bank's fixed income and currency bankers continued a strong run in the third quarter, the firm's results on Wednesday showed. Profit before tax at the investment bank has now been enough to cover losses from the capital release unit for two consecutive quarters.

    28 Oct 2020
  • Biodiversity: banks lack even basic controls

    Biodiversity: banks lack even basic controls

    The threat to biodiversity is moving up the agenda of financial markets, but banks are woefully unprepared, a new study has found — in fact, they are actively financing what scientists believe is a mass extinction of species.

    28 Oct 2020
  • Covered bond reward for risk is ‘very bad’

    Covered bond reward for risk is ‘very bad’

    Covered bond spreads are unlikely to widen much say dealers, plenty of whom are long inventory, especially in recently issued deals. Deals that are ineligible for central bank buying programmes, however, are vulnerable.

    27 Oct 2020

  • The winners: GlobalCapital Bond Awards 2017

    GlobalCapital is delighted to announce the winners of its Bond Awards for 2017. The results were revealed at a gala dinner at London's Globe Theatre on May 23. Thank you to everyone who supported the event by attending and voting in the polls that decided who were the best and brightest in bonds over the last 12 months.

    • 23 May 2017