Figure takes on establishment with blockchain trading platform
Figure Technology Solutions' management have been busy hawking a new blockchain trading platform that would facilitate on-chain, off-exchange trading of secondary shares, beginning with the shares of the company's own venture backers but with clear aspirations of attracting other companies.
S&P downgrades Tricolor auto ABS deal to default
S&P on Wednesday downgraded to default US$217.18m of asset-backed securities that Tricolor sold in June, months before the auto lender filed for bankruptcy in September amid allegations that it used the same loans to secure multiple lines of credit.
Rupak Ghose
Having attended hundreds of investor days over the years, I am used to listening to management teams talk about how unique their franchise is, how they have won market share, that this is all sustainable and there are big opportunities out there.
Deutsche Bank has set a €900bn target for sustainable and transition finance until 2030 and published its initial transition finance framework along with plans to finance more nature-based transactions as part of a broader update of the bank's sustainability strategy .
ANZ Group Holdings's chief executive Nuno Matos apologised in the Australian parliament for the bank's risk management failures and said the lender had significant work to do to address the root causes of the shortcomings.
Deutsche Bank said it expects to significantly control its costs over the next three years by using artificial intelligence as the bank on Monday set out plans to grow revenues by more than 5% annually, from €32bn this year to €37bn by 2028.
Lloyds Banking Group has hired John Langley from Wells Fargo to take over as chief executive of corporate and institutional banking next year to replace John Winter, who is moving to a new role at the UK bank as vice-chair for CIB.
It may have been snowing in London, but November proved to be the right time of year for ice cream (credit) in Europe on Wednesday as Magnum Ice Cream Company found a huge order book peaking near €22bn for its debut deal – although demand dropped significantly after terms were set.
German landlord Vivion Investments has become the latest high-yield-rated issuer to seek a hybrid bond, with the company's only rating under threat of a downgrade.
UK insurer Saturn Holdings made its bond market debut on Wednesday with an unrated sterling Tier 2 note, while French lender BPCE sold its second bond of the year in the currency.
Hamburg got a strong response for a minimally sized syndication in a market now bare of major supply events until 2026. The deal confirms that the buyside is still there for the few SSAs still open to doing public funding.
The Ministry of Finance of the People's Republic of China made a quick return to the international bond market to sell a €4bn (US$4.6bn) dual-tranche bond on Tuesday, just two weeks after the sovereign raised US$4bn from two tranches of bonds, one of which priced flat to Treasuries.
S&P on Wednesday downgraded to default US$217.18m of asset-backed securities that Tricolor sold in June, months before the auto lender filed for bankruptcy in September amid allegations that it used the same loans to secure multiple lines of credit.
Centersquare is making another run to the asset-backed primary, putting it on track to be the biggest data center ABS issuer of 2025.
Southern California Edison is the securitization market with a US$1.64bn offering to recover costs incurred from deadly disasters in 2017 and 2018.
Deutsche Bank has set a €900bn target for sustainable and transition finance until 2030 and published its initial transition finance framework along with plans to finance more nature-based transactions as part of a broader update of the bank's sustainability strategy .
Latin American countries Honduras and Suriname are working to issue sovereign carbon credits that will support efforts to conserve their rainforests.
CAF – Development Bank of Latin America and the Caribbean has bolstered the emerging labelled resilience bond market with only its second new issue and the first from its region.
Three multilateral development banks have launched a Caribbean multi-guarantor debt-for-resilience joint initiative to help the region prepare for disasters and ease debt pressures.
A new US$1bn credit enhancement facility is set to boost the sovereign debt-for-nature swap market, where dealflow has fallen away after a record-breaking 2024 . Established by Enosis Capital – an “impact credit firm” led by Ramzi Issa , who pioneered modern DFN transactions while at Credit Suisse – the facility has begun life with a US$100m commitment from ZomaLab, the family office of Walmart supermarket heir Ben Walton.
Figure Technology Solutions' management have been busy hawking a new blockchain trading platform that would facilitate on-chain, off-exchange trading of secondary shares, beginning with the shares of the company's own venture backers but with clear aspirations of attracting other companies.
Ceva raised roughly US$58.5m Tuesday evening through a marketed follow-on stock sale, though it was forced to offer concessions.
Holding company B Communications sold its entire 15.9% stake in Bezeq The Israeli Telecommunication Corp in a NIS2.73bn (US$832m) accelerated bookbuild on Tuesday.
Plug Power, a once prolific issuer, sold a US$375m convertible bond overnight Tuesday that the cash-strapped fuel cell maker used to take out high-cost debt, but netted US$347.2m on the offering.
Private equity firm Japan Industrial Partners is considering a dividend recapitalisation of the ¥1.84trn (US$12bn) financing that backed its leveraged buyout of Toshiba, weeks after closing following a drawn-out syndication.
French medical diagnostic company Sebia has launched a €1.9bn-equivalent dual-currency term loan B to back its buyout by a consortium led by Warburg Pincus, with pricing that aims to distinguish the firm from weak sentiment in the French laboratory sector.
Indian clean energy developer ReNew Energy Global is likely to raise more than US$4bn-equivalent through a mix of loans and bonds over the next two years to fund its pipeline of renewable energy projects as well as refinance debt falling due until mid-2028.
Read the latest stories from the magazine IFR 2609 - 15 Nov 2025 - 21 Nov 2025
15 Nov 2025 - 21 Nov 2025