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The Daily Capital Markets Digest
Regulators, led by the US Federal Reserve, on Tuesday approved the final version of the Volcker rules banning proprietary trading that carved out exemptions for trading sovereign debt similar to a carve-out for trading US government debt.
Credit Suisse is heard looking to syndicate a US$150m five-year amortizing loan extended to Barbados after the sovereign failed to successfully place a bond in October, according to market sources.
Societe Generale attracted orders in excess of US$8bn for a contingent capital (CoCo) bond, in a key test of US investor demand for the riskiest form of French hybrid debt after the country’s banks were shunned at the height of the eurozone crisis in 2011.
Credit quality of new-issuance CMBS will continue to deteriorate next year due to increased competition among lenders and lower standards from B-piece buyers, according to a Standard & Poor’s report released on Tuesday.
Capital City Columnists
Thursday from the IFR Bank Capital Conference in London
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