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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.

EQY

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.

SEC
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Denmark's Genmab debuts in US junk bond market to fund M&A

Danish drug company Genmab debuted in the US junk bond markets on Tuesday as part of a US$4.5bn debt sale to fund its US$8bn acquisition of development-stage biotechnology company Merus.

BON

City of Buenos Aires returns to market with US$600m bond raise

The City of Buenos Aires raised US$600m on Tuesday with an eight-year bond, reviving a deal that was shelved late last year.

BON

Centersquare sprints ahead in data center ABS race

Centersquare is making another run to the asset-backed primary, putting it on track to be the biggest data center ABS issuer of 2025. 

ESG SEC

Plug Power uses US$375m new CB to clean balance sheet

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.

EQY
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.

P&M
Deutsche sets €900bn 2030 target for sustainable and transition finance

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 . 

LOA P&M BON ESG
ANZ CEO apologises for bank's failures

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. 

P&M
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Deutsche foresees profits as AI replaces its staff

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.

P&M
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Moves – Lloyds hires Langley to head CIB

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.

P&M LOA
Buffett continues to cut BofA stake

Warren Buffett's investment vehicle has continued to cut its holding in Bank of America ahead of the legendary investor's exit at the head of the firm in January. Buffett has almost halved his holding in the US bank in the last 15 months.

P&M
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Investors rush to scoop Magnum debut

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. 

BON
Vivion markets hybrid with only rating under pressure

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.

BON
Sterling efforts by FIG issuers

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. 

BON
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Firm bid for little Hamburg tap

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.

BON
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China builds euro curve

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. 

BON
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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.

SEC
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Centersquare sprints ahead in data center ABS race

Centersquare is making another run to the asset-backed primary, putting it on track to be the biggest data center ABS issuer of 2025. 

ESG SEC
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SoCal Edison preps bond to recoup disaster costs

Southern California Edison is the securitization market with a US$1.64bn offering to recover costs incurred from deadly disasters in 2017 and 2018.

SEC
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BofA sees record ABS volume of US$387bn in 2026

Bank of America is projecting asset-backed issuers will print a record US$387bn of supply in 2026, driven by brisk borrowing by consumers and for digital infrastructure.

SEC
ABS market robust but showing year-end fatigue

The European ABS market is showing signs of fatigue as investors take longer to digest the latest dealflow heading into year-end, though overall appetite for paper remains decent.

SEC RATE
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Deutsche sets €900bn 2030 target for sustainable and transition finance

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 . 

LOA P&M BON ESG
Honduras and Suriname working on sovereign carbon credits

Latin American countries Honduras and Suriname are working to issue sovereign carbon credits that will support efforts to conserve their rainforests. 

BON ESG P&M
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CAF accelerates resilience bond flow

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.

ESG BON
MDB trio launch Caribbean debt-for-resilience initiative

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. 

ESG BON P&M
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DFN pioneer Issa sets up US$1bn guarantee facility

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.

ESG BON
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.

EQY
Ceva raises US$58.5m in new share sale, hints at acquisitions

Ceva raised roughly US$58.5m Tuesday evening through a marketed follow-on stock sale, though it was forced to offer concessions.

EQY
B Communications exits Bezeq

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.

EQY
Plug Power uses US$375m new CB to clean balance sheet

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.

EQY
UAE regulator clears path for Airtel Money listing

The UAE is expected to play host to Airtel Money’s planned IPO with the company on course for a valuation of around US$4bn-equivalent and a deal size of around US$1bn, according to sources.

EQY
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JIP eyes recap of Toshiba LBO loan

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. 

LOA
Sebia stands apart from the crowd

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.

LOA
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ReNew powers up for clean energy debt

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.

ESG LOA BON
Portability demand rises as PE firms seek exits

Portability provisions are muscling their way into a growing share of direct lending deals as private equity firms hunt for cleaner, quicker exits following a stretch of high rates and frozen valuations.

LOA
Merlin stirs restructuring fears

Restructuring lawyers and investors have put Merlin Entertainments on their watchlist, as the theme park operator struggles with a cash crunch and lower than expected Ebitda levels, sources said. 

LOA BON