A contentious saga over the treatment of credit default swaps on Ireland’s Ardagh Packaging Finance has exposed longstanding flaws in these controversial derivatives contracts, legal experts say, prompting some to call for reforms to the US$11trn CDS market.
Silicon Valley Bank will be remembered for making the most obvious mistake in banking; ineffectively managing the risk created by a mismatch between the duration of its assets and liabilities. When rates rose, SVB was exposed, leading to a deposit run on the bank, followed by a federal backstop of deposits .
The Canada Pension Plan Investment Board expanded the scope of the Australian market with another blowout new year trade that delivered both the biggest Kangaroo bond on record and the largest order book for any Australian dollar offering, beyond the Commonwealth government.
Foreign exchange traders’ initial reaction to US president Donald Trump’s capture of Venezuelan president Nicolas Maduro was to buy the US dollar, briefly sending a broad-based measure of the currency to its highest level in nearly a month.
Real estate supply continued to go down a storm in the euro market on Thursday, with two more issuers adding to the four deals already out the gates since the start of the year.
Oracle sued over "false and misleading" US$18bn bond deal
Oracle has been hit with a class-action lawsuit from investors who allege the cloud computing provider misled them about the amount of debt the company would need to take on to fulfil a US$300bn contract to supply OpenAI during a bond sale last September.
Silicon Valley Bank will be remembered for making the most obvious mistake in banking; ineffectively managing the risk created by a mismatch between the duration of its assets and liabilities. When rates rose, SVB was exposed, leading to a deposit run on the bank, followed by a federal backstop of deposits .
Morgan Stanley beat earnings expectations last quarter as fees from investment banking surged 47% to US$2.2bn, thanks to a record breaking quarter in debt underwriting and strength in M&A advisory.
Oracle sued over "false and misleading" US$18bn bond deal
Oracle has been hit with a class-action lawsuit from investors who allege the cloud computing provider misled them about the amount of debt the company would need to take on to fulfil a US$300bn contract to supply OpenAI during a bond sale last September.
European restructurings to remain elevated in 2026
The number of European corporates needing to restructure is expected to continue to rise during 2026 but not at a noticeably higher rate than in 2025, according to law firm Weil’s latest quarterly assessment of distressed credit.
Wells Fargo says CIB to keep hiring after mixed Q4
Wells Fargo said it intends to keep hiring in selected areas of its investment bank and wants to lift returns above 18% in time, fuelled by expense discipline, investment in growth areas and by optimising its capital levels.
Real estate supply continued to go down a storm in the euro market on Thursday, with two more issuers adding to the four deals already out the gates since the start of the year.
Banca MPS reopens OBG supply with tightly priced four-year
Banca Monte dei Paschi di Siena benefited from first-mover advantage on Thursday as it reopened Italian covered supply – which had been muted since November – with a tightly priced €750m four-year conditional passthrough obbligazioni bancarie garantite transaction that was twice subscribed.
Two smaller issuers – French agency SFIL and Belgian region the French Community of Belgium (LCFB) – sold €1.75bn of debt during a quieter Thursday window following another week of heavy SSA supply.
Investors find comfort in Azule Energy despite oil price fall
Angola-based Azule Energy returned to the US dollar market a year after making its debut, with investors continuing to want to take exposure in spite of oil prices being US$20 lower than 12 months ago.
Trump puts single-family rental issuers on defence
US single-family rental issuers were on the back foot in the wake of US president Donald Trump seeking to ban large investors from buying more homes in an effort to address housing affordability.
Solvency II changes could boost demand for CLO's Triple As
Upcoming changes to the European Union’s Solvency II regime are expected to make the CLO market more attractive to insurers and could support additional demand from asset managers, according to analysts.
The European CMBS market will get off to a quick start as Sirius Logistics 2026-1 UK was unveiled by Bank of America, Standard Chartered and Wells Fargo Securities for pricing in the coming week. Calls with the sponsor, Blackstone's last-mile logistics operator, Mileway, were available on request.
The auto sector led the first wave of asset-backed supply in 2026, amid expectations that issuance from this sector will hit a record on the back of strong consumer-borrowing trends.
Oncourse Home Solutions is reopening the whole business securitisation space in 2026 with a jumbo deal to take advantage of favourable funding conditions.
Chile, the first and largest issuer of sovereign sustainability-linked bonds, has bolstered the US$16bn market with a landmark biodiversity pure-play bond after an absence of more than two years.
Turkey considers labelled bond in 2026 amid COP31 preparations
Turkey is considering issuing a green, social or sustainable bond this year as the country prepares to host the UN-sponsored COP31 climate meeting in November.
ENBD prints first 'turquoise' deal with blue and green mix
Emirates NBD has priced a US$700m five-year green bond and a US$300m three-year blue bond, which is the first public benchmark blue bond in the Middle East.
The Port of Rotterdam Authority priced what a major investor said was the first corporate bond with proceeds to be used exclusively for carbon capture and storage.
Split-rated Benin (B+/B1/BB–) is pulling together a US$500m blended finance package for sustainable public transport that includes the Asian Infrastructure Investment Bank’s first loan in the West African country and also involve the International Development Association, the World Bank Group’s concessional lender for the poorest 80 countries.
Shanghai-listed chip designer Montage Technology is planning to open books on Friday for a Hong Kong listing of about US$900m, said people with knowledge of the matter.
Honeywell announced plans Wednesday to carve out its Quantinuum quantum computing business via a US IPO, the latest step in the industrial products conglomerate's effort to carve itself up.
Europe’s IPO market opened the year with a bang on Wednesday with the float of defence supplier Czechoslovak Group in Amsterdam in a deal of up to around €4bn.
Hologic rides market demand to blowout syndication
Investors this week piled into the debt backing the US$18.3bn purchase of diagnostic and medical imaging company Hologic by Blackstone and TPG after a dearth of merger and acquisition loans have left managers hungry for paper, a positive sign for an asset class betting on a pickup in buyouts this year.
Solvency II changes could boost demand for CLO's Triple As
Upcoming changes to the European Union’s Solvency II regime are expected to make the CLO market more attractive to insurers and could support additional demand from asset managers, according to analysts.
IFR hosts a comprehensive programme of conferences, seminars and roundtables throughout the year, providing authoritative insight into the trends and outlooks for specific regions and asset classes.
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