Issue 1430

Main

Public Sector

German regions set to be rolled into ECB QE

News

Never mind the carry: advantages of SSA pre-funding

Belgium taps century MTN and eyes low cost long end

SSAs make sterling saving to raise £400m

Periphery politics pooh-poohed as QE trumps concerns

KfW takes on negative swap spreads

Bond Comments

KfW USD1bn 1.875% Nov 20 green bond

Paris EUR300m 1.75% May 31 climate bond

ESM EUR1.5bn 1.675% Nov 36

Land NRW EUR1bn 0.625% Nov 23

Covered Bonds

News

Investors swoon at BBVA’s covered bond

Demand shrinks for tightly priced Pfandbrief deals

NAB offers decent spread but just oversubscribed

Bond Comments

Financial Institutions

News

Deutsche spreads suffer on new front as volatility rocks busy Samurai mart

UBS turns to holdco euros as banks face final TLAC

AIB puts periphery bank capital on horizon as buyers eye beta

Demand for Honky dollars jumps in wake of US NFP

Yankees jump in as dollars rule

German regions set to be rolled into ECB QE

Bond Comments

UBS Group EUR1.25bn 1.75% Nov 22

La Banque Postale EUR750m 2.75% Nov 27 tier two

Nykredit EUR800m 2.75% Nov 27 tier two

Securitization

Asset Backed Securities

News

Basel brings more chaos to ABS regs

Two new RMBS deals to flush UK pipeline

Seven years on, CRT may be the way forward for RMBS

Split triple-B slices emerging as new norm for CMBS

European CLOs prove resilient despite macro stress

UK RMBS market gears up for two new issues

Victory Park, KKR bring new marketplace ABS deal

Latest B2R SFR deal struggles to tighten

Conning buy a boon for Octagon as risk retention looms

Titrisocram French auto deal bests latest VW offering

Residential MBS

Structured Credit

Derivatives

India gets Modi lift as other BRICs struggle

Abide Financial applies to become EMIR trade repository

CBOE partners with EFP on short term loan exchange

US options and futures traders brace for Fed rate hike in December

ISDA expands its resolution stay protocol

Corporate Bonds

News

Dong and Vattenfall move to placate S&P on hybrids

Companies print niche on MTN demand

Sky gets €500m but investors wary of 10

Simon Property wins a tight NIP after a two year silence

Fiat’s FCA returns with a short €500m no-grow

Four years a hit as WPP €600m brings in big book

APRR’s safe bet with €500m FRN pays off

Vodafone gets first bond since Liberty Global deal fell through

Oil and drugs barons lead the dollar romp

Amadeus IT plays a blinder for €500m no-grow blowout

BMW returns to the bond market after its VW shock

Conti US returns after two year absence

Axa unveils first green bond fund

Bonds Comments

High yield

MTNS and CP

News

Bond Comments

Syndicated loans and leveraged finance

Investment grade or Non-leveraged loans

AT&S picks Schuldschein for cost, ease and Asian investors

Core banks clean up as Veolia drops others from loan

AB InBev takes the reins on world’s largest corporate loan

REIT time for refinancing

Leveraged finance loans

Swissport seeks new loans for Chinese PE LBO

Azelis returns to levloan market for Koda purchase

Global Blue announces dividend recap loan

Ethypharm loans price at wide end of talk

Emerging market loans

Naspers laps up demand, grows loan to $2.5bn as S&P warns

Russian loans: back to primitive deals

Polymetal and RCC mine last Russian loans of the year

Oman and Qatar prepare to soak up mega-loans

MidEast and African lenders drawn to Ecobank loan

FCMB bursts through Nigerian loan drought with $77m deal

FCMB breaks Nigerian loan drought with $77m deal

Emerging Markets

News

More EM roadshows will go nowhere

Saudi debut to hit corporates and banks

Deutsche withdrawal symptoms ring alarm for EM zero fee tactics

Albaraka Türk picks long bank list for Basel III tier two

Middle East trio faces hard choices as bond market turns tougher

Cameroon retreats to wider yield to hit $750m, slumps in secondary

Hipotecario, Móvil could test choppy Lat Am mart

Samarco bonds still unattractive with clarity lacking

Bond Comments

Commercial Bank of Dubai USD400m 4% Nov 2020

League Table

Equity

BAML bags fourth Evonik trade for CVC at 2% down

Nyrstar plans €250m rights issue backed by Trafigura

KPN’s Telefónica Deutsch trade fails to clear

Iberdrola uses equity-neutral CB to skip uneasy bond mart

McCarthy & Stone, builder of retirement homes, floats for £336m, trades up 16%

Georgia Healthcare completes London IPO for $100m, HTN Towers gives up

Gym Group completes discreet IPO

ABN Amro starts building book for IPO at ‘cheap’ range, aiming for €3bn-plus size

Amundi trades up 3.6% as IPO succeeds at €7.5bn valuation

Greek banks to test investor appetite with splurge of capital raisings

IAG bags €1bn at tiny coupons in aggressive CB to refi Aer Lingus

Market News

People Moves

Santander hires four for loans

People Moves in Brief

Citi creates cross border DCM team

Millard to leave Deutsche as Cryan shakes up investment bank management

Columns

Leader

ICAP, Tullett, and the future of investment banking

The Naked Broker

Credit Matters

GlobalCapital View

Food for thoughts

Southpaw

UniCredit seeks inner strength to boost CIB

Euroblog

MTN Leak

MTN Leak: Firework fright

Loans Ranger

Tuesday view

Years in the making, TLAC is still less than a plan

League Tables

Loans

Bonds

Revenue

New Issues

Cartoons

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