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Some traditional investors in European high yield bonds are showing growing interest in lower rated paper. But a closer look at market dynamics suggests that, rather than just newfound risk appetite, the presence of occasional buyers in the market may also be pushing them down the ratings ladder. [ABSTRACT FROM AUTHOR]

The European investor base jumped on consumer ABS paper this week, with Santander's German auto deal driving spreads to a new low and drawing some long absent investors back to the asset class. [ABSTRACT FROM AUTHOR]

The euphoria that infused Europe's corporate bond market from Tuesday to Thursday has cooled somewhat, although investors are still open for business. Bankers had said on Thursday that Friday would bring an interesting crop of deals, but there is only one, for paper company Mondi, rated Baa1/BBB+. [ABSTRACT FROM AUTHOR]

In an otherwise barren summer week for equity block trades in Europe, UBS led the sale on Thursday night of R1.4bn ($95.4m) of stock in Mondi, the Anglo-South African paper and packaging company, on behalf of a group of shareholders left out of a recent reorganisation of Mondi's listing. [ABSTRACT FROM AUTHOR]

Analysts warned this week of securitization's drift into a private, bilateral and less visible type of market at the expense of the public market, despite last year's primary pipeline churning out the highest volume of publicly syndicated bonds since 2011. [ABSTRACT FROM AUTHOR]

$14.6bn of secondary block paper priced in Europe and the US this week, according to Cortex data, as sellers offloaded large stakes in listed companies. They were taking advantage of a rally since the bottom of the pandemic sell-off in March. However, falling earnings estimates mean some fear that sellers may be divesting stock because they believe the market is overvalued. [ABSTRACT FROM AUTHOR]

Renewable energy company Vena Energy stumped Asian investors with its debut bond sale on Wednesday, relying instead on heavy support from Europe. [ABSTRACT FROM AUTHOR]

New securitization data from the Association for Financial Markets in Europe shows European issuers placed €1.8bn more paper with investors in 2014 than the previous year, though they retained a greater proportion of their own notes [ABSTRACT FROM AUTHOR]

The European bank capital market is not expected to build on its trio of 2016 transactions any time soon, as volatility in credit default swaps betrays lingering buyside fears about lenders' stability. [ABSTRACT FROM AUTHOR]

Nordea's order book was more than twice oversubscribed for a €2bn deal across two tranches on Tuesday, while Swedbank also found demand for a sterling deal. The deals suggest that, despite tight spreads, investors are not deterred from senior preferred from the right names. [ABSTRACT FROM AUTHOR]

The article reports that the European Securities and Markets Authority (ESMA) is concerned that investors are not aware of the risks of bail-inable bank debt. Topics discussed include the European Union's (EU) Bank Recovery and Resolution Directive (BRRD) and ESMA's suggestion for banks to give buyers a clear picture of their creditor hierarchy.

Floating rate note issuers have had the jitters over negative coupons since they became an unwelcome reality in April. But Europe's banks, by keeping it simple, may have found a solution to the problems they pose. [ABSTRACT FROM AUTHOR]

Carlyle has won the race to print the first European collateralised loan obligation (CLO) transaction of the year, pricing its latest deal on Tuesday. Both primary and secondary CLO markets in Europe are busy, according to bankers, who are seeing investor resources being redirected to the higher yielding asset class. [ABSTRACT FROM AUTHOR]

Allfunds, the B2B fund distribution platform, has opened the book on its Amsterdam IPO and named several high quality cornerstone investors which are backing the deal. However, not all deals are proving to be as popular as this one and bankers say the IPO market is splitting into those firms which can and those which cannot. [ABSTRACT FROM AUTHOR]

Fresh lockdown restrictions added to a sense of anxiety in Europe at the start of the week, with credit markets already on tenterhooks ahead of the US presidential election. [ABSTRACT FROM AUTHOR]

Europe's convertible bond market enjoyed a modest recovery in 2019, even though interest rates stayed low, reducing the market's appeal as a cheap funding source. Going into 2020, there is cautious optimism that the revival will continue, helped by issuers monetising stakes in other companies. As Aidan Gregory reports, the asset class should attract investors worried about an economic downturn [ABSTRACT FROM AUTHOR]

European elections, which produced relief in much of Europe and some horror in the UK, have not fazed corporate bond markets. But they may have caused this week's dearth of issuance. Illinois Tool Works' three trancher on Wednesday may be the only fruit. But investors' diaries are filling up with roadshow dates. [ABSTRACT FROM AUTHOR]

Cement company Cemex became the first Mexican credit to issue internationally since January as it tapped European investors for a new seven that it will use to refinance existing debt. [ABSTRACT FROM AUTHOR]

Corporate bond investors have much to consider. The end of an unprecedented era of quantitative easing in Europe and unpredictable political machinations are adding to the complexities of portfolio management. [ABSTRACT FROM AUTHOR]

A combination of high demand, asymmetric advice and aggressive borrowers is crushing protection terms for leveraged loan investors in Europe, according to fund managers, analysts and lawyers. But the level of demand means that more cov-lite deals emerged this week. [ABSTRACT FROM AUTHOR]

The summer break in European corporate bond markets has shortened in recent years to as little as two weeks in August, but investors know that the dollar market is always an option. [ABSTRACT FROM AUTHOR]

European regulators got stuck into working on resolving a number of banking's problems this week, as investors appeared positive about the work that has already been done. [ABSTRACT FROM AUTHOR]

The article focuses on the buying of the mortgage bonds of the U.S. by the European investors. Topics included are the initiatives for selling of the bond related to single family rental (SFR) and credit risk transfer of mortgage by the mortgage companies of the U.S., challenges faced by the European investors, and comments of the mortgage company Freddie Mac's credit risk transfer's vice president Mike Reynolds.

The European Financial Stability Facility (EFSF) has surprised SSA bankers by returning to the long end with one tranche of a deal it plans to launch on Tuesday. [ABSTRACT FROM AUTHOR]

The article reports that the uncertainty over Greece's debt negotiations have affected the European sovereigns, supra-nationals and agencies (SSA) market. Topics covered include the expectations that investors will wait for concrete developments in the debt negotiations and an analyst's opinion that any SSA issuance would most likely be a defensive trade.

Bank of America Merrill Lynch analysts are concerned that European investors could shy away from poor volumes in their own region in favour of the US market. [ABSTRACT FROM AUTHOR]

Four years after the Association of Financial Markets in Europe set up guidelines for the sell side in Europe's high yield market, a new letter has aired fresh complaints from investors. [ABSTRACT FROM AUTHOR]

Eight years after the financial crisis, disclosure remains a contentious issue for the ABS community, with new transparency rules in the US and Europe raising costs for issuers even as they improve information for investors. But with the advent of new technology, issuers are running out of excuses. [ABSTRACT FROM AUTHOR]

Isolux Corsán, the Spanish energy and construction firm, last night pulled its €600m initial public offering, in the first blow to what has been Europe's strongest ECM region so far this year [ABSTRACT FROM AUTHOR]