Saturday, 21 October 2017

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  • Mortgage

    New EU rule imperils securitisation market

    A new European Union rule apparently designed to stop self-certified loans from being securitised - but with much wider implications - caused mayhem in the structured finance market last week. Spreads widened as the refinancing of certain RMBS paper was put in doubt, while potential new RMBS and NPL deals were shelved or put at risk.

  • Greece

    Greece comeback bond has to deal with debt ceiling

    Greece has hired six banks to break a three-year impasse that has locked it out of the international debt markets, but the International Monetary Fund’s concerns around the sovereign’s debt sustainability has cast doubt on the trade.

  • Stada Arzneimittel

    Stada banks consider €3bn debt launch

    Banks are considering launching syndication of a jumbo €3bn buyout financing for Stada even before knowing the outcome of the takeover offer, after the German generic drugmaker backed a revised bid last week from buyout groups Bain Capital and Cinven.

  • China property

    Supply glut eases for China HY

    High-yield investors brushed aside concerns of oversupply in the Chinese property sector to welcome four more issuers last week, underlining the market’s depth of demand.

  • CITIC bank's advertisement poster for currency exchange is seen at its branch in Beijing.

    Citic Bank puts up for-sale sign

    By Prakash Chakravarti, Carol Zhong

    China Citic Bank International has put the spotlight on mainland lenders’ risk-management tactics with a move to sell a loan portfolio totalling more than US$2.8bn in the secondary market.

  • An Army soldier parachutes near a giant national flag during the Army's exhibition at Monas Park in Jakarta.

    Dual-currency first for Jakarta

    The Republic of Indonesia printed its first dual-currency sovereign benchmark last Tuesday, making its first visit to the US dollar and euro bond markets since it earned its third investment-grade rating.

  • Softbank

    SoftBank perps set record

    SoftBank set a global record in the hybrid capital market with a US$4.5bn two-tranche perpetual that tapped into demand for higher returns.

  • The logo of Swiss-based meter maker Landis+Gyr is seen at an office building in the Swiss town of Zug

    Investors pay up for Landis+Gyr IPO

    Bankers are naturally reluctant to describe IPOs as hot for fear of attracting the wrong sort of money and creating false hope for the aftermarket - but there is no doubting the excitement around Landis+Gyr’s SFr2.4bn (US$2.5bn) float.

  • Estonia's Finance Minister Toomas Toniste

    Europe eyes power to strong-arm banks on NPLs

    European regulators could be given more power to force banks to tackle the €1trn of bad loans festering on their balance sheets, under new proposals put together by the region’s finance ministers.

  • TrueEX

    CORRECTED-Swaps antitrust claims trigger probe

    Story and headline corrected to reflect the fact that the investigation is at state level, not federal.