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Tuesday, 24 April 2018

Credit Derivatives

Logo of the International Swaps and Derivatives Association

ISDA mulls changes in wake of Hovnanian deal

11 April 2018

The International Swaps and Derivatives Association said Wednesday that its board of directors had ordered consultations on possible changes to the handling of credit defaults.

Borrowers let dust settle

IFR 2226 24 March to 30 March 2018

Only two corporates dipped their toes into the European investment-grade market after last Monday, as the recent torrent of supply started taking its toll, impacting premiums and books, and pushing spreads wider in the secondary market.

DNA joins LM fray

IFR 2226 24 March to 30 March 2018

Finnish telecoms operator DNA made a timid approach to the market on Tuesday last week, coming with a €250m no-grow seven-year that will refinance its outstanding €100m 2.625% November 2018s and its €150m 2.875% March 2021 notes, which were subject to a tender offer.

Euroclear eyes hybrid tranche in second offering

IFR 2226 24 March to 30 March 2018

Euroclear Investments is gearing up for a maximum €700m two-part outing that could come this week and will include a hybrid tranche.

Virgin Media revives sterling high-yield

IFR 2226 24 March to 30 March 2018

Virgin Media revived the sterling high-yield market with a new receivables financing notes offering last week.

Land Securities targets dual-outing for tender offer

IFR 2225 17 March to 23 March 2018

Land Securities has picked Lloyds and NatWest as global coordinators for a nine-year benchmark and a potential sub-benchmark tap of its 2.399% 2029S.