SECURITIZATION

News

• Breakthrough for RMBS as investor appetite drives Italian primary renaissance
• Skipton, Aldermore show glimpse of post-FLS world in UK RMBS
• Banks back with a bang as ‘floodgates open’ in US CLOs
• Banco BPI opts for UDA in latest Portuguese RMBS buyback
• GSO expands boundaries of Holland Park euro CLO
• UK non-conforming RMBS could withstand rate rise despite BoE warning
• CMBS defaults and LTVs climb in Europe amid barren primary market
• Lloyds fuels hope of better year for UK credit cards with new Penarth transaction
• Daimler breaks US YTD record, Colony forges ahead in rental
• Freddie Mac unrated risk-sharing tranche nine times oversubscribed
• Exeter exes muscle in on subprime autos
• SolarCity issues smaller than expected $70m ABS
• US CLO Deal of the Year 2013

CORPORATE BONDS

News

• Deutsche Annington uses €700m hybrid in €2.4bn flats acquisition
• UK infrastructure guarantee gets good start on Mersey bridge bond
• MIT century bond shines amid energy deals
• Wal-Mart judges €1.5bn carefully to price tight, not widen
• Green bonds grow with SCA, Skanska deals
• Essilor gets €800m as first benchmark prices like Airbus

HIGH YIELD

News

• HY investors gobble up Quick’s unsecured FRN in yield craving
• Monier's HY bond, loan refi pave way for IPO
• Lion's GHD seeks sleek HY debut
• IPF saves £20m via new bond, buyback
• Tullow, EnQuest drill for HYBs in dollars
• Virgin taps 15yr HYB at record tight yield
• Sweden's SSAB set to sell €350m bond to yield 4%

MTNS AND CP

News

• German pension funds join Japanese investors in hunt for sub-sov duration
• Investors still trading Eksportfinans despite default claim from hedge fund
• German car firms in MTN battle after VW’s busiest quarter

SYNDICATED LOANS AND LEVERAGED FINANCE

Investment Grade or Non-Leveraged Loans

• Investment grade syndicated loans-news in brief, April 4, 2014

Leveraged Finance Loans

• Bankers bemoan return to 'short-sighted' use of euro covenant-lite
• Publisher Infinitas extends debt after sale of Noordhoff Uitgevers unit falls through
• Loans, news in brief - 4 April, 2014

Emerging Market Loans

• African borrowers may benefit from lenders' Russia fears
• Abu Dhabi's Waha attracts 13 banks despite holdco status
• Emerging market syndicated loans-news in brief, April 4, 2014

EMERGING MARKETS

News

• YPF gains audience but market access limited in Argentina
• Mexico euro double completes funding but yen considered
• Slovenian curves contract as sovereign launches €2bn return
• Damac gives keys to sub IG names in sukuk
• Saudi Electricity generates $12.5bn book for record sukuk
• Nigeria's Zenith Bank seeks debut bond of $350m-plus
• LatAm unleashes supply to hungry market
• JBS pounces on Brazil rating certainty

Bond Comments

• Slovenia EUR2bn 1.75% Oct 17 dual tranche
• Damac USD650m 4.97% APR 19
• Saudi Electric USD1.5bn 4% APR 24

EQUITY

News

• OdiGeo IPO flies after shares priced at €10.25, a premium to peers
• Bankers cheer Royal Mail criticism in hope for adviser, pilot fishing changes in IPOs
• Two more shareholders leave Rexel in €500m block
• Specialist health services firm offers mini discount
• Italian media group gets a shot of new cash with CB
• Vastned brings diversity to property CB party
• SFS hopes to fix investors' attentions with IPO
• Just Eat still hot on delivery despite froth worries
• SkyePharma seeks new capital for bond buyback
• Equity Capital Markets, News in Brief — April 4, 2014

DERIVATIVES

News

• London-based affiliates seek to maintain parent entity guarantees
• Cleared Contract Volumes Up 14%
• Hedge funds, CVAs tap payers on Main
• Investors tap $/ ¥ calls as pair moves higher
• Regulators’ G20 report highlights clearing issues
• Investors eye LatAm recovery via fx options
• Bifurcated market possible post-credit definitions
• Credit Suisse Launches Risk Appetite Structures
• Swiss deriv proposals to hit pension funds
• Managers roll maturities on Main names
• European investor interest grows in vol-target structures
• VIX futures trading up 20%

MARKET NEWS

News

• Blythe Masters to leave JP Morgan after 27 years
• EBA shines spotlight on dangers of yield search
• Bank of Italy doles out write-down medicine
• Poor use of collateral the problem, not supply-BoE, ICMA
• EBA spots Scandi liquidity strain
• Euro authorities flounder on covered bonds
• Deutsche slips in CEEMEA, Citi takes the lead
• Barnier keeps securitization high on agenda
• New Levfin head at MS - SSA pair surface at BAML - FIG DCM departure at Barclays

COLUMNS

Leader

• Return of cov-lite means return of risk
• Reverting to crisis business models

The Naked Broker

• Thinking outside the (post) box

Southpaw

• Natixis gears up for CIB challenge

MTN Leak

• MTN Leak: A royal MTN birth

Tuesday View

• UK can never relive Lloyds sell-down success with Royal Mail
• Politicians must face euro reform challenges