Crédit Agricole group feels benefits of cost cuts
Crédit Agricoleâs fourth quarter results showed that the bank was feeling the positive effects of its cost reduction plan and business disposals that it conducted in 2013. This cost cuts affected the...
View ArticleCredEm grows OBG investor base, more to come this year
Credito Emilianoâs â¬750m five year has earned praise for its tight pricing, but it was demand from outside the eurozone, including from Asia and Switzerland, that suggests Italyâs recovery story...
View ArticleCosts could scupper Scotlandâs bid for bond freedom
The UK government in London may be prepared to give Scotland the authority to print its own bonds, thus adding a new issuer to the exclusive sovereign, supranational and agency market, but the real...
View ArticleCore covered compression constrains performance
Covered bond spreads are so tight that there is almost no scope for secondary performance, bankers have warned. âCore markets are in a zone of low oxygen,â one said on Tuesday, as KBC Bank priced a...
View ArticleDollar buyers hot for German paper
Demand for dollar deals from a pair of German issuers surpassed expectations this week, as Erste Abwicklungsanstalt followed a heavily oversubscribed print from KfW with its debut benchmark in the...
View ArticleEC seeks covered bond harmony
The European Commission wants to harmonise the covered bond market and will assess its preferential regulatory treatment, according to a draft document. Harmonisation of national laws will be almost...
View ArticleEmerging Market syndicated loans-news in brief, Feb 21, 2014
First Quantum woos new banks â DBK signs deal
View ArticleEmerging Europe: banks not panicking about QE taper so far
The Federal Reserveâs tapering of its quantitative easing programme has yet to have an impact on foreign bank lending in emerging Europe. New data show that foreign banks appear to have shrugged off...
View ArticleED&F Man picks banks as commodities trio hit market
Commodities companies are keeping loans bankers busy in western Europe, as UK broker ED&F Man joined Amsterdam Commodities and Trafigura in the market.
View ArticleComet-less Darty makes HY debut with tight â¬250m 7yr
Darty Financements made its bond debut in Europe's near-empty high yield market this week.
View ArticleCodere defaults on 2nd bond, rejects plan
Codere, the troubled Spanish gambling company, has rejected bondholder plans to restructure its debt, after it failed to make coupon payments on both its bonds.
View ArticleBankers predict sevens as ESM gears up for benchmark
The European Stability Mechanism will sell its first benchmark deal of 2014 next week and SSA officials have their money on it being a seven year.
View ArticleBAML and Barclays lead GMS IPO
Gulf Marine Services, the Abu Dhabi offshore service vessel operator, hopes to tap into investorsâ interest in its potential for growth to raise $100m of primary proceeds through a London IPO.
View ArticleAramark to allocate $4.8bn jumbo loan
Aramark, the US catering and facilities management group, is set to allocate $4.8bn-equivalent of loans, having received commitments from investors last week.
View ArticleBankers chase bigger but fewer bonds in EM
In 2014, emerging market bankers will be chasing after bigger mandates, but fewer of them if this yearâs numbers are anything to go by. The average size of an emerging market bond in the first weeks...
View ArticleBNP Paribas goes tight as market lives up to hype
The covered bond primary market lived up to supply expectations this week with five issuers tapping the market in the first two days of the week. BNP Paribas stood out, showing the strength of its...
View ArticleCEEMEA trio restarts Russia despite threat of Ukraine contagion
Russian borrowers have been conspicuous by their absence in the bond market this year, but that changed this week with three benchmark-sized transactions despite the awful events in Ukraine. The deals...
View ArticleCanny politics, glaikit finance
The granting of bond issuing powers to the devolved Scottish government is nothing but a political play.
View ArticleCAF hunts for investors in HK$ and Nkr
Corporación Andina de Fomento (CAF) hopes to increase its presence in the Hong Kong dollar and Norwegian krone markets, a funding official at the development bank told EuroWeek. But the borrower may...
View ArticleAllianz buys Scottish motorway bond, Mersey bridge on way
Crédit Agricole and HSBC have placed what is believed to be the first unwrapped bond to finance a new UK road since the demise of the monoline insurers in the financial crisis.
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