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Monday, 18 June 2018

Helene Durand' s stories

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  • MAR adds to aggro as mandates pile up

    MAR adds to aggro as mandates pile up

    Top News | 15 June 2018

    Nearly 70 potential bond deals across the world are stuck in limbo as volatile market conditions put off issuers from going ahead with offerings, even after undertaking extensive marketing with investors.

  • Vivat sets high mark for RT1 market

    Bonds | 15 June 2018

    Vivat found enough takers for a debut Restricted Tier 1 bond last week, though investors had the upper hand in dictating the terms under which they were willing to buy one of Europe’s trickier, and still evolving, financial credit stories.

  • VIVAT logo

    Vivat pays high price for RT1 debut

    Ticker | 13 June 2018

    Vivat had little option but to pay a high price and keep a lid on size for a debut Restricted Tier 1 bond on Thursday as investors set the terms to buy one of Europe’s trickier, and still evolving, financial credit stories.

  • Metro Bank branch

    Metro Bank looks for new fans in debt market

    Ticker | 13 June 2018

    Metro Bank has set its sights on a Tier 2 capital raise for its bond market debut as it looks to bolster its balance sheet and further grow its business.

  • A pick-up truck carrying tobacco bales

    MAR adds to deal aggro as mandates pile up

    Ticker | 12 June 2018

    Multiple deals stuck in limbo due to market volatility MAR regulation adding to woes

  • Svenska Handelsbanken sign

    Copycat Svenska plays it safe

    Ticker | 11 June 2018

    Svenska Handelsbanken played it safe with a short-dated sterling trade on Monday as the mood remained rather gloomy despite the improved market backdrop.

  • Febrile sector sends Italian bank bonds to new wides

    Bonds | 08 June 2018

    Italian bonds suffered renewed weakness last Friday, hitting new wides as pressure on the sovereign filtered through to lenders, leading to doubts about market access for its weaker banks.

  • Bondholders seek answers after HSBC's 'disco' curveball

    People & Markets | 08 June 2018

    An ad hoc group of bondholders who were wrong-footed by HSBC’s decision to change the regulatory treatment of some of its Tier 2 securities have asked the bank to provide them with an update and more transparency.

  • NatWest

    NatWest Markets finds tentative euro market for rebranded first

    Ticker | 07 June 2018

    A five-year senior for recently rebranded NatWest Markets came up against a still challenging backdrop in the euro market on Thursday, where investors are reluctant to chase every new deal.

  • JP Morgan

    MOVES-JP Morgan's Lewell returns to London for international syndicate job

    Ticker | 06 June 2018

    JP Morgan’s Marc Lewell is relocating to London after a three-year stint in Asia to run the US bank’s international syndicate business, according to an internal memo seen by IFR.

  • Protestors dance next to a disco ball as they parade through a street during May Day demonstrations

    Bondholders seek answers after HSBC's 'disco' curve ball

    Ticker | 05 June 2018

    An ad hoc group of bondholders who were wrongfooted by HSBC’s decision to change the regulatory treatment of some of its Tier 2 securities have asked the bank to provide them with an update and more transparency.

  • Japan Flag

    JICA to add another 10-year notch

    Ticker | 04 June 2018

    Japan International Cooperation Agency is restarting US dollar SSA issuance, looking to ape its US$500m 10-year trade from last year with a new SEC-registered Global.

  • Passers-by walk in front of a branch of French bank Credit Agricole in Marseille

    MOVES-De Vitis moves to Credit Agricole in Paris

    Ticker | 01 June 2018

    A gap has opened up on Credit Agricole’s sovereign, supranational and agency debt syndicate desk in London, after Raffaele De Vitis moved to the bank’s Paris office.

  • EU flags fly in front of the ECB headquarters in Frankfurt

    Covered bonds, securitisation key as banks exit TLTRO - Alonso

    Ticker | 31 May 2018

    Covered bonds and securitisation will regain importance in banks’ funding strategies as the ECB’s targeted longer-term refinancing operations (TLTRO II) progressively mature, Bank of Spain’s deputy governor Javier Alonso said on Thursday.

  • Logo of the International Capital Markets Association

    MOVES-ICMA appoints first woman chair in 50-year history

    Ticker | 31 May 2018

    The International Capital Market Association (ICMA) has appointed Mandy DeFilippo as chair of the board, the first time in its 50-year history that a woman has been appointed in that role.

  • A man with umbrella struggles against heavy rain and wind caused by Typhoon Guchol in front of a boa

    SSAs wait it out while volatility still lurks

    Ticker | 30 May 2018

    The savage sell-off in Italian government bonds eased on Wednesday with the sovereign closing some of the gap with Germany, but the dust was not settled enough for public sector primary activity to restart.

  • A man walks next to a sign for Nomura Securities in Tokyo

    MOVES-Nomura fosters ESG franchise with hire

    Ticker | 30 May 2018

    Nomura has hired Aaron Baker as head of international environmental, social and governance (ESG) syndicate, a newly created job at the bank, as it seeks to create a footprint in the sector.

  • Bulls

    SSA markets take fright on Italy turmoil

    Ticker | 29 May 2018

    Italy’s bond market was hit hard on Tuesday as political turmoil further knocked investors’ already fragile confidence in the country. With the possibility of another election now a likely prospect, more flare-ups are likely.

  • HSBC

    MOVES-HSBC takes Sharaka for SSA syndicate

    Ticker | 25 May 2018

    HSBC has hired Shade Sharaka to work on its syndicate desk for sovereign, supranational and agency (SSA) debt, according to market sources.

  • Italian volatility rattles SSA markets

    Bonds | 25 May 2018

    Caution was the word of the week in the SSA market after ructions in the Italian government bond market complicated deal execution, and with little let-up expected in the weeks ahead issuers will need to remain vigilant.

  • Italy

    Italian volatility rattles SSA markets

    Ticker | 25 May 2018

    Caution was the word of the week in the SSA market after ructions in the Italian government bond market complicated deal execution, and with little let-up expected in the weeks ahead issuers will need to remain vigilant.

  • Bank of America Merrill Lynch sign

    MOVES-BAML bolsters SSA syndicate

    Ticker | 25 May 2018

    Bank of America Merrill Lynch has hired Raman Gangahar from Deutsche Bank’s treasury to work on its sovereign, supranational and agency desk, according to market sources.

  • Landeskreditbank Baden-Wuerttemberg (L-Bank) logo

    L-Bank shakes up new issue process with hybrid auction

    Ticker | 23 May 2018

    L-Bank’s attempt to shake up the new issue process with an auction appeared to work on Wednesday, though market participants were dubious as to whether this approach will be rolled out more broadly.

  • Unedic logo

    Unedic gets €1bn away as volatility stalks markets

    Ticker | 23 May 2018

    Unedic managed to get a €1bn 15-year away on Wednesday, a better outcome than the European Investment Bank the previous day, despite the transaction coming up against renewed volatile market conditions.

  • Dollar market leaves issuers cold

    Bonds | 18 May 2018

    Public-sector issuers that typically rely on the US dollar market for funding shunned the currency in favour of euros and sterling last week, lured by more favourable borrowing costs and a less volatile market backdrop.

  • Italian flag waves in front of The "Altare della Patria"

    Markets wake up to Italian political risk

    Top News | 18 May 2018

    Italian government debt, which until last week had shown remarkable resilience in the face of uncertain politics, lost its footing as the prospect of an alliance between the country’s two anti-establishment parties became a reality.

  • NRW.Bank logo

    CEDB, NRW.Bank struggle to catch a bid as markets shake

    Ticker | 17 May 2018

    Council of Europe Development Bank and NRW.Bank struggled to sell their euro benchmarks on Thursday as volatility in rates markets hampered deal execution and curtailed investor demand.

  • SSA canada

    EDC seeks cover in sterling

    Ticker | 16 May 2018

    Export Development Canada’s decision to eschew the US dollar market in favour of sterling paid off on Wednesday, with the issuer printing a £750m May 2023 trade, matching its previous record in the currency.

  • African Development Bank (AfDB) headquarters

    AfDB hits sweet spot, lands biggest euro

    Ticker | 16 May 2018

    The African Development Bank hit the sweet spot of the euro market, bringing a 10-year Social bond that will be its biggest and longest trade in the single currency.

  • Smiling Union Jack piggy banks

    UK DMO breaks demand record with longest Gilt yet

    Ticker | 15 May 2018

    Demand poured into the UK DMO’s longest Gilt yet, a £6bn 1.625% October 2071 trade that lured record interest for a conventional line of over £37bn and will extend the country’s curve by three years.

  • HSBC

    Barclays, HSBC go for size in chunky Yankee week

    Ticker | 11 May 2018

    Better sentiment helped Barclays plc, HSBC Holdings and Skandinaviska Enskilda Banken raise decent chunks of US dollar funding in what was the second largest week for European Yankee financials issuance in 2018.

  • Barclays, HSBC go for size in chunky Yankee week

    Bonds | 11 May 2018

    Better sentiment helped Barclays plc, HSBC Holdings and Skandinaviska Enskilda Banken raise decent chunks of US dollar funding in what was the second largest week for European Yankee financials issuance in 2018.

  • SSARs gear up for return to normal

    Bonds | 11 May 2018

    The public sector is expected to see a return to a more normal issuance pattern this week after volumes fell to almost zero last week as bank holidays across Europe kept issuers away from the market.

  • Clock begins to tick on UK banks' AT1 calls

    Bonds | 11 May 2018

    The market is likely to take a large swathe of UK bank AT1 refinancings over the next 18 months in its stride despite a looming Brexit deadline, helped by the asset class’s continued appeal with investors.

  • Logo of the European Stability Mechanism (ESM)

    Rumour mill in full swing as SSA market draws another blank

    Ticker | 09 May 2018

    The only window for issuance this week has come and gone without being used, though SSA bankers are busy on calls as they begin lining up deals for next week.

  • Commerzbank headquarters

    MOVES-Vives de Montal lands at Commerzbank

    Ticker | 09 May 2018

    Commerzbank has hired Anthony Vives de Montal as a director in its public sector debt capital markets business, according to sources familiar with the matter.

  • Logo of the European Stability Mechanism (ESM)

    Holidays take toll but SSA restart expected soon

    Ticker | 08 May 2018

    A bank holiday in France has taken its toll but the SSA issuance hiatus will not last long and primary is expected to restart in earnest next week, with the European Stability Mechanism one of the potential candidates.

  • False start for Danske SNP

    Bonds | 04 May 2018

    Danske Bank was forced to put its debut senior non-preferred issue on hold last week, blaming documentation issues for putting the trade, the first from Denmark in the format, on hold.

  • Tier 2 bonds slump as music stops for HSBC 'discos'

    Bonds | 04 May 2018

    Prices on a number of HSBC‘s legacy Tier 2 bonds dropped last Friday after the bank said it had changed the securities’ regulatory capital treatment, surprising some investors who had been expecting them to be called.

  • RLB Steiermark gives covered market much needed cheer

    RLB Steiermark gives covered market much needed cheer

    Ticker | 03 May 2018

    Raiffeisen-Landesbank Steiermark gave the covered market some much needed cheer on Thursday, attracting over €1bn of demand for its first covered deal in over two years and pricing with a much smaller new issue premium than recent trades.

  • BBVA logo

    BBVA cracks open Spanish Green SNP market

    Ticker | 03 May 2018

    BBVA will price the first senior non-preferred Green bond from Spain later on Thursday, joining the growing ranks of financials turning to the capital markets in order to tackle climate change and help sustainable development.

  • Natixis logo

    MOVES-Gardiner lands FIG DCM role at Natixis

    Ticker | 03 May 2018

    Natixis has hired Robert Gardiner to work in its Nordic and Dutch financial institutions group origination business, according to a source.

  • The flags of Austria and the European Union are pictured in front of the Austrian ministry of finance

    RLB Steiermark picks 15-year for covered return

    Ticker | 02 May 2018

    Raiffeisen Landesbank Steiermark has picked the 15-year part of the curve for what will be its first covered bond in more than two years, an issue that will also be the first trade in the format to emerge this week.

  • Danske Bank branch

    Danske puts "senior non-prepared" on hold

    Ticker | 02 May 2018

    Danske Bank has blamed documentation issues for putting its debut senior non-preferred trade on hold, a move that drew sniggers from the market and earned the deal the “senior non-prepared” label.

  • Deutsche Bank HQ

    Deutsche Bank launches exchange offer on eight US dollar bonds

    Ticker | 02 May 2018

    Deutsche Bank has announced its intention to exchange eight senior debt securities with a total principal value of US$9.7bn originally issued out of the Frankfurt and London branches into substantially equivalent notes issued by its New York branch.

  • Royal Bank of Canada (RBC) logo

    MOVES-Changing of the guard at RBC as Davies retires

    Ticker | 01 May 2018

    Matthew Davies, a managing director at RBC, has left the bank and is retiring after working over 30 years in capital markets according to a source familiar with the matter.

  • NWB Bank

    ESG tag helps shrink SSA concessions

    Bonds | 27 April 2018

    The public sector market was gripped by ESG fever last week, with three issuers bringing small but perfectly sized and priced trades.

  • Santander

    Santander finds going slow for sterling return

    Ticker | 26 April 2018

    Santander UK found the going slow for its first sterling senior holdco trade since 2016, leaving the issuer with little pricing power.

  • World Bank to market SDR debut

    World Bank bolsters capital markets team

    Ticker | 25 April 2018

    The World Bank is bolstering its treasury capital markets team with the hire of Henry Coyle, according to a spokesperson at the supranational.

  • Kommunalbanken sign

    KBN dollar sails through despite tight print

    Ticker | 25 April 2018

    Kommunalbanken sailed through the US dollar market on Wednesday, attracting orders of over US$1.65bn for a US$1bn no-grow three-year despite the tight print on offer.

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