Mexico Roundtable 2006
Mexico's local bond market has seen a revival in activity after a brief lull in July driven by the uncertainty surrounding this year's presidential elections. Volumes have been robust with about Ps93bn (US$8.6bn) of long-term debt being issued in the domestic markets so far this year, and some bankers reckon the market could see another Ps20bn in supply before the year ends.
Covered Bonds Roundtable 2006
The main theme in the covered bond market of 2006 has been the addition of new jurisdictions as fresh legislation is passed. Most notably, this included the much-anticipated and successful opening of the US covered bond market courtesy of Washington Mutual in a move widely expected to open the floodgates for more US mortgage lenders looking to latch onto the coattails of this success.
US Credit Derivative Roundtable 2006
Credit derivatives volumes continue to explode but dealers have convinced regulators that the market is no longer a ticking time-bomb in terms of processing problems.
Latin America Loans Roundtable 2006
It was the best of times and the worst of times for the Latin American syndicated loans market in 2006. Borrowers, especially at the top tier, got ever tighter pricing while lenders were forced to fall on the relationship sword.
Sovereign Borrowing Roundtable 2006
The diversification options pursued by European sovereigns in recent years have firmly established the inflation-linked sector and the embryonic ultra-long market as viable and increasingly important source of funding.
Corporate Hybrid Capital Roundtable 2006
Corporate hybrid capital has suffered a number of false starts in Europe, but in 2005, the product finally found its feet after Moody's clarified its ratings treatment of such instruments. Almost €7bn of issuance last year put hybrid bonds under the spotlight for all European corporates, and the market is poised for serious growth with issuers able to achieve up to 75% equity credit and full equity accounting treatment with the benefit of tax deductible coupons.
Non-Core Bond Roundtable 2006
The non-core currency bond markets came into 2006 with renewed optimism. The push into new currencies that dominated the market last year has continued with issuers beginning to embrace a broad range of African currency markets including Botswanan pula, Egyptian pounds, Tanzanian shillings and Namibian dollars. Many have been structured as synthetic transactions as the clearing houses catch up with the new trends, but investors have embraced the opportunity to pick-up yield in a historically low rate environment.
Brazil Roundtable 2006
Brazilian capital markets are at an historic turning point. The leading South American economy is the darling of emerging markets investors and an influx of foreign capital is expected to revolutionise the nation's credit profile and local corporate finance.