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Rallye debt losses burn JP Morgan and HSBC
The pick-up in European corporate defaults continues to weigh on bank trading desks this quarter, with JP Morgan and HSBC on the hook for sizeable losses after French holding company Rallye entered bankruptcy protection last month.
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Asian sovereigns pounce on rate cut hopes
South Korea and Indonesia charged into the international bond markets last week, raising a combined US$3.1bn as expectations of a US rate cut helped stir demand for emerging-market assets.
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CLO spreads widen as Japanese pull back
Slowing investment by Japanese financial institutions has pushed pricing on the most senior tranches of European CLO funds to its widest point in nearly three years as investors such as Norinchukin Bank scale back multibillion-dollar investments.
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Ukraine's euro return is no joke
Ukraine found good support for its first euro offering in nearly 15 years on Thursday as investors pin their hopes on newly elected president Volodymyr Zelenskiy’s ability to push ahead with critical reforms.
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Huatai connects with UK buyers
Huatai Securities has raised US$1.54bn from a landmark sale of global depositary receipts in London in a deal that ushers in the long-awaited Shanghai-London Stock Connect trading link.
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US Congress takes aim at China IPOs
The US-China trade war is spilling over into the capital markets after US legislators tabled measures that could block Chinese companies from going public in the US and force the delisting of a host of well-known companies including Alibaba, JD.com and PetroChina.
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Piraeus gears up for first Greek sub-debt sale in over a decade
Piraeus Bank will attempt to sell the first bank capital trade from a Greek bank in over a decade this week as it looks to turn the page on its chequered bond market past and leverage shareholder support to bolster its balance sheet.
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Fiserv hits up market to fund First Data purchase
Financial services technology provider Fiserv took the plunge in an up market last week when it priced a US$9bn four-part bond to help fund its US$22bn purchase of First Data - the largest digital payments acquisition ever.
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Barbell strategy proves a fashion hit
A barbell strategy of favouring short and long-duration bonds has attracted a string of advocates in the euro corporate market as investors seek a way to maximise returns in a low-yield environment while limiting risk.
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Investors mob CrowdStrike IPO
CrowdStrike, a fast-growing cybersecurity company led by former McAfee executives, produced one of the hottest US IPOs in recent memory when it raised US$612m last week, but the outcome also underscored the frothy current state of the US new issue market.
