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Tuesday, 12 December 2017

Abhinav Ramnarayan' s stories

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  • Vienna

    Austria 100-year blows the doors off

    Top News | 15 September 2017

    Austria made bond market history last week, bringing the first 100-year eurozone sovereign syndicated trade and pushing the boundaries of the European bond market into uncharted territory.

  • Vienna

    Austria sounds out investors for its first 100-year bond sale

    Ticker | 11 September 2017

    Austria is sounding out investors for a potential 100-year sovereign bond sale as soon as Tuesday, in what would be the first “century bond” to be sold publicly by a eurozone country.

  • EU sovereign debt bankers may be dragged out of London

    People & Markets | 28 July 2017

    Banks at the heart of EU government borrowing could be forced to move some operations out of London if they want to hold on to that business after Brexit, according to three senior bankers with knowledge of the matter.

  • Canary Wharf in London

    Banks dealing EU sovereign debt may be dragged out of London

    Ticker | 26 July 2017

    (Reuters) - Banks at the heart of EU government borrowing could be forced to move some operations out of London if they want to hold on to that business after Brexit, according to three senior bankers with knowledge of the matter.

  • The Department of Justice (DOJ) logo

    Four more banks named in bond price-fixing complaint

    Top News | 13 April 2017

    Investors who are suing a group of traders and banks, alleging they colluded to fix bond prices, have named four more banks as defendants.

  • Four more banks named in bond price-fixing complaint - RTRS

    Ticker | 12 April 2017

    Investors who are suing a group of traders and banks, saying they colluded to fix bond prices, have named four more banks as defendants.

  • Finnish national flag

    Finland becomes third euro zone country to record negative 10-year yield

    Ticker | 27 September 2016

    Finland became the third eurozone sovereign to see its 10-year borrowing costs turn negative on Tuesday as part of a broad rally in eurozone bonds.

  • Italian flag

    The cost of eurozone countries going long

    Bonds | 09 September 2016

    A push by some eurozone countries to issue debt that will not need repaying for many decades may come at a price – but for borrowers who lived through the bloc’s 2010–2012 crisis, it is probably a price worth paying.

  • Volkswagen logo

    Volkswagen gears up for bond market return

    Top News | 05 August 2016

    Volkswagen may sell its first public unsecured deal for a year as early as the end of August, according to four bankers who cover corporate bonds. The deal would be the company’s first such transaction since the emissions scandal in September 2015.

  • Vodafone logos

    Vodafone goes long twice in a week

    Bonds | 05 August 2016

    Vodafone’s penchant for long-dated debt was on display last week, with the UK telecoms firm starting the week with a £800m 33-year benchmark trade and ending it with a £1bn 40-year bond, the two deals coming either side of a Bank of England announcement on corporate bond purchases.

  • Credit Suisse logo

    Sterling market gets leg up from QE

    Bonds | 05 August 2016

    The Bank of England gave the renascent sterling market a helping hand last week, unveiling a corporate bond purchase programme of up to £10bn as part of an ambitious stimulus package to support the UK economy following the Brexit vote.

  • Vodafone logos

    Sterling corporates on winning streak as BoE starts QE

    Ticker | 04 August 2016

    Sterling corporate bonds rallied hard on Thursday after the Bank of England said it would buy them as part of its quantitative easing reprise, with bankers now touting for more business.

  • A wad of British pound bills

    Sterling primary market swats aside Brexit concerns

    Ticker | 04 August 2016

    Corporates and financials have sold just over £6.5bn of bonds since the UK voted to leave the European Union, as the sterling primary market fights back and issuers take advantage of attractive funding costs.

  • Cellnex antennas

    Cellnex paves the way for post-summer rush

    Ticker | 02 August 2016

    Split-rated corporate issuer Cellnex drew around €4bn of demand in its first transaction for over a year as squeezed investors buy up risky paper in a highly technical market that could lure more issuers to market.

  • Cellnex antennas

    Cellnex, Vodafone add to buoyant mood

    Ticker | 01 August 2016

    Split-rated issuer Cellnex Telecom will print a €750m long seven-year euro benchmark trade from a €4bn book, the latest sign of how smoothly the corporate bond market has taken the Brexit vote in its stride.

  • Parliament building in Athens

    Low yields spur rethink on Greece

    Top News | 29 July 2016

    Some hedge funds are returning to the Greek government bond market less than a year after the country was bailed out for the third time, as the hunt for yield intensifies in a low-rate environment.

  • EDF logo

    European corporate issuers keep powder dry for September

    Ticker | 25 July 2016

    Most issuers will eschew the bond market for the time being, as a combination of ECB demand and low supply over August is likely to conspire to create perfect issuance conditions in September, bankers said.

  • Crunching yields

    Spain and Cyprus squeeze yields

    Bonds | 22 July 2016

    Peripheral eurozone countries Spain and Cyprus made triumphant returns to the bond market last week, with the yields on offer trumping any concerns over political uncertainties, particularly with further monetary policy easing on the horizon.

  • Bond traders

    Real money struggles to make real money

    Top News | 15 July 2016

    Low and negative bond yields are forcing Europe’s real money investor community into a major rethink on how to meet their targets without taking excessive risks.

  • BNP Paribas sign

    P&M: Ulrich to join Deutsche from BNP Paribas

    Ticker | 13 July 2016

    Deutsche Bank has hired Jonas Juel Ulrich from BNP Paribas to work in its public sector debt capital markets team, according to two people familiar with the matter.

  • Deutsche Bank headquarters

    P&M: Adubi to join Deutsche Bank SSA team

    Ticker | 12 July 2016

    Deutsche Bank has hired Ben Adubi to join its sovereign, supranational and agency syndicate team, according to two sources familiar with the matter.

  • ING Group logo

    P&M: Arkus joins ING as head of UK FIG

    Ticker | 11 July 2016

    Gregory Arkus is to join ING as head of financial institutions for the UK region, the Dutch bank said.

  • Investors in for more shocks

    Investors prepare for more political shocks

    Top News | 01 July 2016

    Political risk is unlikely to disappear from investors’ radars any time soon, with more shock results – and financial turmoil – possible in the US presidential election and a series of votes across Europe later this year.

  • European Central Bank (ECB) headquarters

    ECB flexes muscles to steady jittery bond markets

    Bonds | 01 July 2016

    The European Central Bank stepped up its purchases of peripheral sovereign debt and corporate bonds over the past week, providing crucial support to a market that was initially unnerved by the UK vote to exit the European Union.

  • KfW branch

    KfW underlines market resilience with sterling deal

    Ticker | 30 June 2016

    Germany-guaranteed KfW hit the sterling market for a £350m tap of its 1.125% December 2019s in what was described by one banker as a demonstration of how unnervingly strong the market is despite the UK’s vote last week to leave the EU.

  • Mercedes-Benz Bank branch

    European bond market goes back to business

    Ticker | 29 June 2016

    The European bond market cranked back into action on Wednesday, putting an end to almost a week of no supply as issuers made the most of the better tone to raise new financing.

  • Spanish flags

    Spain 10-year rumours resurface

    Ticker | 29 June 2016

    Spain is once again being talked as a potential candidate for a 10-year syndication after the outcome of Sunday’s general election led to a powerful rally for the country’s debt.

  • Moritz Kraemer

    Dual break-up could prove daunting for weakened UK, says S&P

    Ticker | 28 June 2016

    The UK could struggle to orchestrate an orderly withdrawal from the European Union particularly if it also has to deal with a split with Scotland at the same time, Standard & Poor’s chief sovereign analyst said on Tuesday.

  • World Bank building in Washington, D.C..

    World Bank could restart SSA primary market

    Ticker | 28 June 2016

    The World Bank could reopen the public sector market as soon as next week despite the Brexit uncertainties raging through the market, two public sector debt bankers said.

  • European Central Bank headquarters

    ECB supports peripheral eurozone bonds from post-Brexit rout

    Ticker | 27 June 2016

    The European Central Bank came out in force to buy peripheral eurozone government bonds on Friday, providing crucial support after the UK voted to exit the European Union in a referendum on Thursday.

  • Logo of the European Investment Bank

    EIB primed for post-Brexit hiatus

    Bonds | 24 June 2016

    The European Investment Bank is likely to have to put its bond issuance on hold for the foreseeable future after the UK voted to leave the European Union last week. 

  • Logo of the European Investment Bank

    EIB primed for post-Brexit hiatus

    Ticker | 22 June 2016

    The European Investment Bank is prepared to put its bond issuance on hold if there is volatility in the event of a UK exit from the European Union.

  • A trader watches the screens at a bank's trading room in Lisbon

    Europe could be stuck in low yield, low growth loop for years

    Ticker | 21 June 2016

    The eurozone could be stuck in a Japanese-style low yield, low growth environment for a number of years as the ECB runs out of ammunition to stimulate the economy.

  • Bond trader

    Ten-year Bunds go negative

    Top News | 17 June 2016

    Investors were left despairing last week after 10-year German Bunds, the benchmark instrument for European fixed-income markets, saw their yield go negative for the very first time as the tightening of core European government bonds showed no signs of relenting.

  • Sunflower field

    Manitoba gets away with bad timing

    Bonds | 17 June 2016

    The Province of Manitoba was criticised for launching a 10-year benchmark against a volatile market backdrop, even if the issuer just about got away with it in the end.

  • Bond trader

    BONDS: Negative-yielding 10-year Bunds the new normal

    Ticker | 14 June 2016

    Ten-year German Bund yields hit a fresh landmark on Tuesday by going negative for the very first time, as the tightening of core European government bonds shows no signs of relenting.

  • Kommunalbanken sign

    SSA markets brace for referendum

    Ticker | 13 June 2016

    A few deals could trickle through this week, most likely small US dollar FRNs or taps, but the market is likely to be quiet ahead of the UK referendum on EU membership on June 23.

  • British flag

    Brexit is 'biggest risk since Lehman'

    Top News | 10 June 2016

    A British exit from the European Union could be the most disruptive event for financial markets since the Lehman Brothers collapse, market participants have warned.

  • Bundesbank headquarters

    Central banks sweat as European government bond yields sink

    Bonds | 10 June 2016

    Central banks looking to buy assets for the ECB’s quantitative easing programme face a huge headache as the pool of European government bonds available for purchase shrinks further.

  • Wind park

    Ile de France rakes in Green bond orders

    Ticker | 07 June 2016

    French region Ile de France printed its largest ever issue, a €650m 0.50% June 2025 Green bond, having been the centre of attention in a quiet market on Tuesday.

  • Spanish flags

    Spain mulling whether to launch bond this week

    Ticker | 06 June 2016

    The Kingdom of Spain is considering whether to bring a syndicated bond this week ahead of potential volatility or to wait until elections are completed at the end of the month.

  • KfW branch

    Banks bite the bullet and buy up short-dated bonds

    Bonds | 03 June 2016

    Bank treasuries piled into short-dated KfW and EAA bonds as the opportunity to add short-term risk that would help meet regulatory requirements outweighed the losses implied by the notes’ negative yields.

  • SES sends signal to hybrid hopefuls

    Bonds | 03 June 2016

    Corporate Hybrids

  • Stellar year for erstwhile sick man

    Stellar year for erstwhile sick man

    All Special Reports | 02 June 2016

    Italy, the eurozone’s most indebted nation other than Greece, has taken to using syndication to good effect to term out its high levels of debt.

  • Erste Abwicklungsanstalt logo

    EAA adds to negative-yielding supply and flies

    Ticker | 01 June 2016

    Erste Abwicklungsanstalt followed KfW into the undersupplied short-end of the euro market on Wednesday, finding itself similarly swamped with demand despite offering a negative yield.

  • Thales logo

    French duo test appetite for sub-1% yields

    Ticker | 31 May 2016

    Demand for Thales and RCI Banque bonds was much lower than the multi oversubscribed books seen on corporate deals in recent weeks as the low-yielding trade failed to gather much investor enthusiasm.

  • KfW

    KfW swamped with interest for negative-yielding five-year bond

    Ticker | 31 May 2016

    KfW received more than €6.75bn of demand for the first five-year negative yielding SSA benchmark as investors give up on getting any returns in the European bond market.

  • Deutsche Bank headquarters

    P&M: Cree retires from Deutsche Bank SSA

    Ticker | 31 May 2016

    * Corrects Jallport’s role and reporting line

  • European Investment Bank

    Not quite sweet 16s for EIB

    Bonds | 27 May 2016

    The European Investment Bank pushed through a €3bn 16-year EARN on Tuesday, splitting opinion in the market, with some impressed by the issue size but others underwhelmed by the level of demand.

  • JP Morgan offices in Canary Wharf

    P&M: JP Morgan promotes duo after Norrey retirement

    Ticker | 25 May 2016

    JP Morgan has promoted two bankers to fill the gap left in its SSA business by the retirement of veteran banker Carl Norrey, according to an internal memo seen by IFR.

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