GlobalCapital

[COMING SOON] Introducing our powerful new market-wide database, providing you with the critical data you need to win or allocate bond mandates. Primary Market Monitor. The Primary Market Monitor covers syndicated benchmark issuance in SSA, FIG, emerging market, covered and corporate bonds. But we go beyond the basic deal data to show you how well deals were executed, the amount that pricing was moved during book building, the subscription ratio and the market colour and sentiment behind each trade. 𝐀𝐧 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐠𝐚𝐦𝐞 𝐜𝐡𝐚𝐧𝐠𝐞𝐫 𝐟𝐨𝐫 𝐢𝐬𝐬𝐮𝐞𝐫𝐬, 𝐛𝐚𝐧𝐤𝐬 𝐚𝐧𝐝 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬.    Our journalists and researchers take daily readings of new issue premium estimates from across the market to give you an average score on benchmark new issues – collecting over 30 data points on each deal across all five markets. Find out more and request a demo here: https://lnkd.in/e53_yMAW Spot trends. Gain insight. Win mandates. #GlobalCapitalData #primarybondmarket #bonds #bondmarket #investors #banks #investors #data #SSA #emergingmarkets #coveredbonds #corporatebonds 

In this week's edition of the #SSA roundup: This week we looked at how the snap French election derailed SSA pipeline. SSA bankers are trying to stay optimistic, with issuers Hervé Amblard from Paris and Alexander Labermeier at Arbeitgeberverband Chemie und verwandte Industrien für das Land Hessen e.V. sharing how they managed to find the support to still get trades done despite the volatility this week: https://lnkd.in/espRWNTN The EU was also in the market with a 15 year deal but was also denied access to MSCI Inc.’s government bond indices. We found out the market thought of the set-back and what their expectations are for the bloc’s second half funding needs, due to be revealed in the coming weeks. https://lnkd.in/eJDaG_pi We also spoke to the UK Debt Management Office’s Jo Whelan about the sovereign’s new 10 year. The deal lead to the UK’s its biggest ever order book and became one of its largest ever syndications as part of a strategic shift towards shorter dated deals that appeal to a wider range of buyers https://lnkd.in/eEnJzcvr Jim Hopkins at British Columbia’s Ministry of Finance talked us through how the Canadian province rounded off a trio of successful deals in quick succession this week and returned to the sterling market after 28 years https://lnkd.in/emvPzj4j And make sure to add our Global SSA Special Report 2024 to your reading list this weekend! We spoke to a wide range of MDBs and other issuers including the EU and agencies, as well as dealers about important topics such as MDB capital and European safe assets https://lnkd.in/eZm7vG_G

Here's our wrap up of the corporate bond market from the last week: The European Central Bank followed the script last week and cut rates by 25bp. The red hot corporate bond market has taken this as even more good news, with a raft of mandates hitting screens and Swiss chocolatier Barry Callebaut Group issuing on Friday. June is tipped to be busy in credit markets, in part because of no surprises from the ECB but also as issuers try to cram in deals before the expected volatility of the November US presidential election: https://lnkd.in/e3fq6exK It’s not all rosy in the corporate markets, though. Environmental, social and governance concerns are swaying M&A decisions more than ever, with almost three quarters of respondents to a Deloitte poll saying they had scrapped deals on ESG concerns. Bond investors and loans bankers are less concerned, with some even suggesting that ESG standards are too tight around weapons and defence. ESG funds typically take a zero tolerance approach to money being spent on guns and bombs, but as one senior loans banker says: “a lot of people are stuck by the rules they put in place in much safer and more complacent times”: https://lnkd.in/ekscMyBt #corporatebonds

𝗝𝘂𝗻𝗲 𝟭𝟮, 𝟯𝗽𝗺 𝗕𝗦𝗧: How can #AI transform and reshape capital markets? Join our #webinar, brought to you in partnership with S&P Global Market Intelligence, to understand how the market has evolved – and what is the way forward for AI. 𝗔𝗴𝗲𝗻𝗱𝗮: The latest developments around AI and what they really mean for banks, asset managers and private equity firms. Use cases spanning compliance solutions, information extraction or summarization. Generating alpha using technology Future of AI in capital markets – friend or foe? 𝗦𝗽𝗲𝗮𝗸𝗲𝗿𝘀: Rashmi Kumar, Correspondent, GlobalCapital Spencer Maclean, Founder, BondAuction Chirag Patel, Market Development– Investment Management, S&P Global Market Intelligence Stu Taylor, International Head of Electronic, MUFG 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿: http://spr.ly/60495z8Ed #capitalmarkets #webinar #capitalmarkets

Missed this year's #GlobalABS, or wish you could have seen everything, everywhere, all at once? KBRA's daily recaps have you covered. The third and final day of Global ABS 2024 conference featured a focus on #privatecredit, a topic of interest in the credit markets. This provided a popular and refreshing finish to the conference, with interesting topics ranging from the middle market to fund finance. Read the recap in full for free on GlobalCapital - https://lnkd.in/eR7m-qre Other recaps: Day 2 - https://lnkd.in/eE7p2KP2 Day 1 - https://lnkd.in/eUZ9FdcR #capitalmarkets #securitization

In this week's edition of the #SSA roundup: Germany lost over half of its book as it pushed for a bigger greenium when it tapped a green Bund this week. Some said the sovereign pushed too far, others said it did the right thing. Either way, it is becoming obvious to market participants that investors are increasingly sensitive to spreads as some core SSA issuers face a repricing of their bonds: https://lnkd.in/efC2GEDn We also looked into what the first ECB rate cut since 2019 meant for the rates market: https://lnkd.in/eRERap5x Despite all eyes being on the ECB, the primary market remained ‘white hot’ this week. Issuers returned to dollars after a recent lull, and we spoke to CEB - Council of Europe Development Bank’s Anne Flori about its new dollar bond, judged a “true blowout”: https://lnkd.in/eU-hvumy Andrea Dore also shared with us the “tremendous amount of work” that went into the International Development Association’s (part of The World Bank Group) record $4bn trade: https://lnkd.in/e4DGYnBm We spoke with Sam Dorri of the CPP Investments | Investissements RPC Investment Board, which made a long-awaited comeback to the euro market that investors piled into: https://lnkd.in/e_TP82vQ Ana Guardia talked us through INSTITUTO DE CREDITO OFICIAL’s new social bond that was priced through fair value: https://lnkd.in/eD5CEHHk Bank Nederlandse Gemeenten refreshed the seven year part of its curve this week. Koen Westdijk shared with us the strategic thinking behind the trade: https://lnkd.in/eJcQRW34 We also spoke to the Spanish Treasury for the sovereign’s plan for the rest of the year after it achieved record oversubscription from a recent syndication: https://lnkd.in/eSmAeJmP

Every year, Invisso's Global ABS in Barcelona is a hive of activity: the rush to get registered; walking through the totally performative security guards; catching up with old friends; and listening to many excellent panellists. But the real action, at least as far as GlobalCapital is concerned, is in the weird and wonderful giveaways on display in the exhibit hall. After the success of the SF Vegas Swag Awards earlier this year, the European version of this v̵e̵r̵y̵ ̵o̵f̵f̵i̵c̵i̵a̵l̵ *𝐭𝐨𝐭𝐚𝐥𝐥𝐲 𝐮𝐧𝐨𝐟𝐟𝐢𝐜𝐢𝐚𝐥* review is here. AFME (Association for Financial Markets in Europe) | Matheson LLP | Apex Group Ltd | BNY Mellon | Hogan Lovells | VANTRU | Morningstar DBRS | U.S. Bank | Euronext | TMF Group | Weil, Gotshal & Manges LLP | Tisf | Maples Group | Morgan, Lewis & Bockius LLP | Alter Domus  | Circumference Group | Walkers #capitalmarkets #securitization #GlobalABS

GlobalCapital is delighted to reveal the shortlist and open voting for this year’s Covered Bond Awards. Cast your free vote here: https://lnkd.in/eV3Q9prB View the full shortlist here: https://lnkd.in/e5N9wfXM Voting closes July 5. We would like to thank those who made recommendations for the deals, #borrowers, #investmentbanks and people that stood out during the review period. Based on this feedback, and our own independent research, shortlists have been drawn up in each category. The winners will be announced on the evening of the ECBC Covered Bond Congress in Porto, Portugal on September 12. Image credits — GlobalCapital Covered Bond Awards 2023 winners: — Covered Bond House of the Year, Best Bank for ESG Issuers, Best ESG Deal, Best Covered Bond Research winner Crédit Agricole CIB — Best Bank for Distribution, Best ESG Deal winner Erste Group — Investor of the Year winner Commerzbank AG Treasury #GlobalCapitalAwards #coveredbonds #capitalmarkets

In this week's edition of 𝘾𝙤𝙗𝙚𝙣 𝙩𝙝𝙚 𝘾𝙤𝙣𝙩𝙧𝙖𝙧𝙞𝙖𝙣, Craig Coben dives into communication monitoring: The crackdown on bankers' use of unapproved messaging apps highlights a double standard, as public officials often use similar channels without facing consequences. Despite the lack of substantive wrongdoing uncovered, US regulators have turned enforcement of messaging app usage into a significant source of fines, raising questions about the true intent behind these actions. While banks enforce strict communication protocols on their employees, government officials frequently escape similar scrutiny, underscoring the hypocrisy in regulatory practices. Read the column here: https://lnkd.in/eF9g9CQh Access Craig's columns with a free trial to GlobalCapital. Sign up here: https://lnkd.in/em6c5tGP And don't forget, you can submit a dilemma in complete confidentiality for Craig to tackle in his other column, 𝙉𝙚𝙬 𝙄𝙨𝙨𝙪𝙚𝙨, by emailing [email protected].

Day 1 of the Global ABS 2024 conference in Barcelona saw a record attendance, highlighting the booming European #securitization market. Hosted by AFME (Association for Financial Markets in Europe) and Invisso, the event featured panels on asset-backed securities (ABS), collateralised loan obligations (CLOs), commercial mortgage-backed securities (CMBS), and more. Key discussions included the positive yet cautious market outlook, driven by investor activity and new asset classes despite regulatory concerns. The consumer ABS panel highlighted #AI in credit scoring and the potential for buy now, pay later products. The CLO market showed strong activity, driven by attractive yields, though loan sourcing remains a challenge. The private securitization market focused on financing real economy needs, while the auto ABS panel discussed vehicle sales normalization and declining EV prices. Regulatory panels called for greater flexibility and global alignment. Overall, the conference reflected optimism for market growth amid economic uncertainties. Read the full recap here: https://lnkd.in/ebK3Ts5m Brought to you by KBRA #capitalmarkets #GlobalABS