The EM bond market burst into life last Wednesday when five sovereign US dollar deals hit the screens as issuers sought to get in ahead of Donald Trump’s inauguration on January 20.
A fresh ratings downgrade and a potential banking crisis were not enough to keep investors away from Italy’s syndicated bond deal last week, with the issuer almost matching the huge demand seen in Belgium’s record-breaking trade days earlier.
Junior creditors of Lehman Brothers’ London arm have more reasons than most to curse the Brexit case clogging up the UK Supreme Court over the past six weeks. The judgment in the Brexit case is to be delivered this Tuesday, but the use of the court’s time may have proved costly to the Lehman creditors.
Bankers receiving bonuses are to become an even more endangered species at Deutsche Bank after its management board said a quarter of all staff – the majority of them in the investment bank – would not receive an individual award for 2016.
Ford Motor Credit helped to reopen the dormant asset-backed securities market last week when it sold the first-ever public bond to fully comply with post-crisis regulations.
One of the world’s largest exporters of sunflower oil is poised to become the first Ukrainian corporate to issue a bond since 2013.
Japanese ECM bankers now know their year will be made or ruined by whether they can secure a role on the Japanese government’s second round of selling Japan Post.
The IPO of Russia’s number one toy store Detsky Mir is the first float since the imposition of sanctions on the country to include foreign banks. It is only the fourth IPO in the country since US and European financial sanctions were introduced in March 2014, just days after Russian hypermarket Lenta had completed its listing.
Almost a third of the US leveraged loan market has taken advantage of huge demand for floating-rate assets to cut pricing on existing debt over the last year, shaving interest payments by millions of dollars, and the floodgates are still wide open.
The US IPO market sprang into action with a spate of deal launches last week, brightening bankers’ hopes that new-issue volumes will pick up substantially this year.