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JP Morgan prints US$5bn after Q3 trading record

JP Morgan printed a US$5bn two-part offering of senior unsecured bonds, a day after the biggest US lender reported record trading revenue for the third quarter that easily beat analyst estimates. 

BON

Ferrellgas readies junk bond to address near-term maturities

Ferrellgas is returning to the junk bond market for the first time in over four years as part of a refinancing that alleviates concerns over the propane gas distributor's ability to cover near-term debt maturities.   

BON
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BayernLB, Haspa keep covered momentum going

German issuers kept the covered bond flag flying on Wednesday, when Bayerische Landesbank revived dollar supply with a US$650m three-year mortgage Pfandbrief and Hamburger Sparkasse sold an inaugural €500m six-year public sector Pfandbrief.

BON

ASP Isotopes taps nuclear hype to pull in US$210.3m overnight

ASP Isotopes seized on investor enthusiasm for US nuclear power plays to raise US$210.3m from an overnight sale of stock, slightly more than had been targeted.

EQY

Moves – Parsons to guide Deutsche’s flock after Johnsson quits

Deutsche Bank has hired senior banker Anthony Parsons as executive chairman of origination and advisory. He was previously vice chairman of global banking at HSBC, which decided to close its M&A and equity capital markets businesses in Europe earlier this year. 

LOA P&M EQY
Prasad Gollakota

Swiss authorities and the country’s largest bank are in a standoff. Earlier this year, Switzerland’s banking supervisor, Finma, put forward a proposal to force UBS to hold tens of billions of Swiss francs more in capital. Swiss politicians and regulators say that, in the wake of the collapse of Credit Suisse, they have no choice but to harden the system, protect taxpayers and ensure that UBS and the broader Swiss economy can weather any potential economic or banking crisis. Some reports suggest that UBS will be required to hold up to SFr21bn (US$26bn) in extra capital.

P&M
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Morgan Stanley reclaims equities trading crown from Goldman

Morgan Stanley outworked rival Goldman Sachs to become the top bank in equity trading in the third quarter, posting revenue of US$4.1bn, up more than 35% compared to the year-ago quarter.

P&M
Moves – Parsons to guide Deutsche’s flock after Johnsson quits

Deutsche Bank has hired senior banker Anthony Parsons as executive chairman of origination and advisory. He was previously vice chairman of global banking at HSBC, which decided to close its M&A and equity capital markets businesses in Europe earlier this year. 

LOA P&M EQY
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Swiss court deems Credit Suisse AT1s write-off unlawful

A Swiss federal court has ruled that the decision to write-off Credit Suisse’s Additional Tier 1 instruments, with a nominal value of SFr16.5bn (US$20.6bn), as part of its rescue by UBS in March 2023 was unlawful.

P&M BON
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M&A drives Goldman in Q3

Goldman Sachs reported record third quarter results as revenue from advisory rose 60% to US$1.4bn, reflecting a significant increase in completed mergers and acquisitions volumes in the period.

P&M
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JP Morgan reports record Q3 trading revenue

JP Morgan reported record trading revenue in the third quarter blowing away analysts estimates.

P&M
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JP Morgan prints US$5bn after Q3 trading record

JP Morgan printed a US$5bn two-part offering of senior unsecured bonds, a day after the biggest US lender reported record trading revenue for the third quarter that easily beat analyst estimates. 

BON
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Ferrellgas readies junk bond to address near-term maturities

Ferrellgas is returning to the junk bond market for the first time in over four years as part of a refinancing that alleviates concerns over the propane gas distributor's ability to cover near-term debt maturities.   

BON
BayernLB, Haspa keep covered momentum going

German issuers kept the covered bond flag flying on Wednesday, when Bayerische Landesbank revived dollar supply with a US$650m three-year mortgage Pfandbrief and Hamburger Sparkasse sold an inaugural €500m six-year public sector Pfandbrief.

BON
TDC and Northumbrian thrive in market turnaround

Investors poured into a new issue from TDC Net on Wednesday, in a market that seemed worlds away from the weak demand for deals issued only a day earlier.

BON ESG
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Tokyo tees up first certified resilience bond

Tokyo Metropolitan Government is marketing the first bond certified under the Climate Bonds Initiative’s new resilience taxonomy. 

ESG BON
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US solar ABS sector regains shine

The US solar asset-backed securities sector has regained some lustre, proving it is still a viable funding source for renewable energy issuers after a rough summer that cast a shadow over its future.

SEC ESG
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Debut French RMBS shelf benefits from rarity effect

BPCE, a regular issuer of French public prime RMBS since 2018, priced the first deal from its newly created master trust programme amid good investor interest, despite political turbulence in France.

SEC
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DCS mulls US dollar offering

DCS Card Centre, formerly known as Diners Club Singapore, is evaluating asset-backed securitisations in US dollars, it said in response to IFR queries after the successful completion of its most recent S$450m (US$348.8m) ABS deal – its largest yet. 

BON SEC
CBA sets major RMBS benchmark

Commonwealth Bank of Australia returned to the RMBS market after a two-year absence on Thursday to print the A$1.5bn (US$990m) self-led funding-only Medallion Trust Series 2025-1, which sets a new benchmark for Australian securitisations.  

SEC BON
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Cajun refis WBS acquisition debt

Cajun Global is cooking up a US$325m whole business securitisation that will refinance the ABS offering that backed its purchase of the Church's Texas Chicken franchiser in 2021.

SEC
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Tokyo tees up first certified resilience bond

Tokyo Metropolitan Government is marketing the first bond certified under the Climate Bonds Initiative’s new resilience taxonomy. 

ESG BON
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World Bank Group builds single treasury

World Bank Group is creating a single treasury operation as part of its continuing modernisation under president Ajay Banga, though its three capital markets issuers – the International Bank for Reconstruction and Development, the International Finance Corp and the International Development Association – will retain their separate funding programmes and identities.

ESG BON
Loan market gears up for new transition label

Global loan trade associations are getting ready to launch a dedicated transition label that could encourage more high-emitting companies to raise labelled loans to fund decarbonisation.

LOA ESG P&M
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Czech debut reinvigorates sovereign social bonds

The Czech Republic has breathed fresh life into the stalled sovereign social bond market with a rare issue that also ended the European Union member state’s longstanding absence from ESG bond markets.

BON ESG
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US solar ABS sector regains shine

The US solar asset-backed securities sector has regained some lustre, proving it is still a viable funding source for renewable energy issuers after a rough summer that cast a shadow over its future.

SEC ESG
ASP Isotopes taps nuclear hype to pull in US$210.3m overnight

ASP Isotopes seized on investor enthusiasm for US nuclear power plays to raise US$210.3m from an overnight sale of stock, slightly more than had been targeted.

EQY
WT Micro plans GDR, CB sales

Taiwan-listed WT Microelectronics is planning to sell global depositary receipts and a convertible bond which could raise around US$764m in total.

EQY
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ThyssenKrupp Marine Systems ready for launch

ThyssenKrupp Marine Systems will list on Frankfurt's Prime Standard on October 20 following its spin-off from its German industrial parent.

EQY
LG Electronics India debuts 50% higher

LG Electronics India debuted 50% higher on Tuesday after completing a Rs116bn (US$1.31bn) IPO.

EQY
EyePoint takes view toward 2027 with US$150m equity raise

EyePoint Pharmaceuticals returned to the market for the second time in less than a year to raise US$150m overnight Tuesday to help fund two Phase III trials for its promising eye drug.

EQY
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M&A financing to heat up in India

Mergers and acquisitions in India will be able to draw on a far bigger pool of liquidity after the central bank said it will allow domestic banks to provide financing for such deals for the first time in years.

LOA BON
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India eases restrictions on offshore debt

India’s central bank is proposing a major liberalisation of the complex rules governing offshore borrowing that could broaden the sources of foreign capital for the country's companies.

BON P&M LOA
Opella leads reset for April class

Opella has broken free of the shackles of call protection to reprice the term loan Bs tied to its buyout by Clayton Dubilier & Rice, and Apleona could potentially follow suit with a material pricing move in mind.

LOA
Private credit tests ETFs in bid to reach masses

As private credit makes a bid to reach the masses, more asset managers are testing the viability of the asset class in exchange-traded funds, which typically hold more liquid investments.

LOA
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CIMIC builds new funding sources

CIMIC Group has more than doubled a loan to A$1.27bn-equivalent (US$841m) after attracting a blowout response from almost 30 banks, despite no participation from the Taiwanese lenders that are usually top players in the Asia Pacific loan market.  

LOA