Who would you trust to decide the precise levels of coupon payments you receive on your debt holdings after Libor is discontinued?
The investigative arm of Congress said on Thursday that US bank guidelines on leveraged lending are subject to Congressional review, clearing the way for them possibly to be overturned.
The People’s Republic of China will go without international ratings for its first US dollar sovereign bond since 2004, raising doubts over whether it will still achieve its goal of setting a liquid global benchmark.
The US Securities and Exchange Commission last Tuesday charged Rio Tinto and two of its former top executives with fraud, saying they inflated the value of coal assets in Mozambique and concealed critical information while tapping the market for billions of dollars.
Online microlender Qudian has raised US$900m from the biggest Chinese listing in the US in a year, underscoring the strong appetite of American investors for fast-growing and reasonably priced mainland companies.
Spain’s Banco Santander returned to the US dollar market last week raising US$2.5bn of so-called senior non-preferred bonds in a widely expected deal that will help it close in on one of the biggest shortfalls of loss-absorbing debt among the world’s largest banks.
After more than €2trn of bond purchases, the European Central Bank is expected on Thursday to announce the phasing out of its quantitative easing programme, with plans to reduce – and eventually halt – its purchases over the course of next year.
Global investors piled into Vincom Retail’s D15trn (US$680m) IPO, Vietnam’s largest, as it offered a rare opportunity to buy into the frontier market’s rapid economic growth.
A cooling property market is prompting some global fund managers to take a defensive approach to Australian credit.
The package of assets used to determine settlement on credit default swaps referencing Novo Banco will include a fixed-term deposit option granted to noteholders who redeemed their bonds in the bank’s US$4.74bn tender offer.