United States

The Cambridge-based semiconductor designer is lining up cornerstones ahead of its giant flotation on the NYSE in the autumn

Private lender closed its second RTL securitization of the year last week

Overall CMBS delinquencies are at their highest level since December 2021

◆ BNPP serves up dollar AT1 reopener ◆ HSBC lands dual tranche senior inside euros ◆ Borrowers expected to prioritise dollars over euros

◆ Investors flock to first dollar AT1 for five months ◆ Positive response to new equity conversion structure ◆ More supply to come but no 'deluge'

Falling inflation and rallying equities have driven a strong recovery in US equity capital markets

◆ Low concessions paid in the first part of the week ◆ Market tone worsens after US downgrade and rates volatility ◆ Wells Fargo chooses quick return for opco funding

Pricing is beginning to stabilise as investors see nuance

◆ Improved funding in dollars for European banks ◆ The two issuers have been heavier users of euro and sterling markets this year ◆ Where is best to print in dollars for others eyeing the market?

◆ Lloyds and Santander launch Yankees ◆ Better execution in the dollar market than raising euros or sterling, says Lloyds Treasury ◆ Dollar investors supporting foreign issuers, including capital trades

Public Storage pays just a handful of basis points, while Amex coughs up more

Equity-linked bond market in Europe has been left in the dust by the Americas and Asia-Pacific, baffling bankers