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◆ Italian bank gets duration in Yankee market that it cannot reach in Europe ◆ The $3bn deal was its biggest for a decade ◆ Global bid for duration allows it to print longest SP dollar deal this year [ABSTRACT FROM AUTHOR]

◆ US RMBS sales in Europe: immigration or vacation? ◆ UBS AT1 makes nonsense of claims of investor fears ◆ The EU's last hurrah in the SSA market [ABSTRACT FROM AUTHOR]

Aggressive widening of bank bond spreads has halted FIG bond issuance of all kinds in Europe [ABSTRACT FROM AUTHOR]

A lacklustre earnings season and competition from other markets could see spreads bounce wider [ABSTRACT FROM AUTHOR]

More to come after Quebecois lender makes Swiss franc covered bond debut [ABSTRACT FROM AUTHOR]

Issuance to pick up after company results released amid a turbulent economic outlook in Europe [ABSTRACT FROM AUTHOR]

Issuers are finding it hard to find credit lines in both the US and Europe [ABSTRACT FROM AUTHOR]

A long drought of new convertible issuance is over in Europe [ABSTRACT FROM AUTHOR]

Chinese high grade corporate euro-denominated bond spreads have moved sharply wider in the last few weeks, but analysts reckon there is little chance of contagion weighing on Europe's mainstream investment grade corporate bond market. [ABSTRACT FROM AUTHOR]

Three new Spac IPOs priced in Europe at the end of last week raising a combined €675m, suggesting that there is still some meaningful investor appetite for the product in the region. However, sources are warning that pricing a Spac is far from easy. [ABSTRACT FROM AUTHOR]

The recent floods in Europe should be sounding alarm bells for the insurance industry. With events like these on the rise thanks to global warming, insurers facing compounding losses should look to catastrophe bonds as an alternative to costly reinsurance. [ABSTRACT FROM AUTHOR]

JAB Holdings and Prosus have hired banks to run bond issues, adding to the barrage of corporate deals in the works before Europe's summer break. [ABSTRACT FROM AUTHOR]

Rates traders were sanguine about the market outlook over the next month in the belief that low supply and high redemptions will support spreads. But long term questions about the extent of central bank asset purchases, both in the US and Europe, are expected to come back to haunt them. [ABSTRACT FROM AUTHOR]

A big night for the European blocks market on Tuesday took Europe's equity capital markets by surprise, with almost €2.9bn printed across three accelerated deals. The success of the sales has given the market hope that there are more opportunities to bring big block trades, writes Sam Kerr. [ABSTRACT FROM AUTHOR]

FedEx, the US delivery company, picked Europe to print its debut sustainable bond on Tuesday, as the region's green and environmental, social and governance debt market is "years ahead" of the US. [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]

Europe's high grade primary bond market was pumping out deals with double figure new issue concessions this week, though German real estate company Vonovia's debut green deal showed that ESG demand is still strong enough that borrowers don't have to offer extra. [ABSTRACT FROM AUTHOR]

Increased turbulence in global equity markets has changed the way block trades are conducted in Europe, with smaller transactions coming to market in order to protect the price for sellers. [ABSTRACT FROM AUTHOR]

If you want to be Europe's leading global investment bank, you've got to have a leading role in the UK, the region's biggest fee pool. And that means having a strong corporate broking platform, writes David Rothnie. [ABSTRACT FROM AUTHOR]

BMW set Europe's investment grade corporate bond market off to a flying start for the year on Monday, printing €1.5bn of debt at or inside fair value. [ABSTRACT FROM AUTHOR]

BMW set Europe's investment grade corporate bond market off to a flying start for the year on Monday, printing €1.5bn of debt at or inside fair value. A range of borrowers are said to be lining up trades in the German vehicle maker's slipstream. [ABSTRACT FROM AUTHOR]

Enel is planning €10bn of extra renewable energy investment in Europe, as a result of the support it hopes to get from the European Union's €750bn recovery fund. But it believes the EU should refine its aid to subsidise sustainable finance more directly. [ABSTRACT FROM AUTHOR]

Klépierre, the French shopping centre operator, and UPM–Kymmene, the Finnish paper company, were two of a handful of names to receive raucous receptions from the bond market this week. Issuers benefited as a wave of market-friendly news turned the focus in Europe's high grade bond market back to a risk on mode. [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]

Concerns over the worsening coronavirus infection rate in Europe sent bank spreads wider on Thursday, as investors avoided taking on risk in the secondary market. [ABSTRACT FROM AUTHOR]

Green bonds are becoming the rule, rather than the exception, for Europe's sovereigns with two more debuts this week. Covid-19 has delayed others from entering the market but the instruments are now well and truly part of mainstream capital markets infrastructure and another country is even setting up for a sustainability bond. [ABSTRACT FROM AUTHOR]

VC Trade, a digital platform in the Schuldschein market, has begun promoting secondary trading on its system, with an eye of scaling up into Europe's loan markets. [ABSTRACT FROM AUTHOR]

The MTN market expects a busy summer in Asia as investors look to make up for time lost to the coronavirus pandemic at the start of the year. In Europe, things are starting to slow down, however, there are signs that the credit market could open up over the coming weeks. [ABSTRACT FROM AUTHOR]

The world is facing an unprecedented crisis, the economic effects of which we are only beginning to understand. Sovereign funding will be at the heart of the effort to mitigate those effects. GlobalCapital hosted a virtual roundtable in May to discuss the effects that the pandemic is having on sovereigns' borrowing requirements and market access, and how they are handling the situation. [ABSTRACT FROM AUTHOR]

The coronavirus pandemic has made for a busy time for Europe's equity capital markets with all manner of emergency capital raises and block sales being done alongside even the odd IPO. Market participants expect the pace of issuance to run on in the weeks ahead after May turned out to be one of the best months of the last few years. [ABSTRACT FROM AUTHOR]

As Europe starts to emerge from its coronavirus lockdown, economic restrictions are being eased and banks are returning to funding in the public markets. But the environment is markedly different from that which went before. [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]

Activity in the high grade European loan market is tailing off, as the initial rush of borrowers securing crisis funding has begun to die down, according to lenders. [ABSTRACT FROM AUTHOR]

ABS eligible for the simple, transparent and standardised' (STS) criteria could have lost its preferential capital benefits after payment freezes on consumer lending went into place across Europe, but the EBA has acted to clear up the uncertainty and confirm the capital benefits. [ABSTRACT FROM AUTHOR]

This week's intense spate of corporate bond issuance in Europe continued into Friday, though at a slightly more moderate pace, and the broadening of access continued, with the first sub-benchmark deal, for Red Electrica, the Spanish power grid - however, a Leaseplan green bond did not fly. [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]

With the Schuldschein having grown into one of Europe's foremost private debt markets, Asian and European banks have swarmed to it on the hunt for implied investment grade companies to lend to. But at the corners of the market, new characters are edging into the picture. According to several market sources, hedge funds and US investment banks have started to work their way into a still rare element of the centuries-old German market — distressed debt. Silas Brown investigates. [ABSTRACT FROM AUTHOR]

Syngenta, the Swiss agrichemicals company, on Tuesday sold its first Swiss franc bond since being acquired by China National Chemical Corp (ChemChina) in 2017. But other mandated deals hang in the balance as the Covid-19 coronavirus spreads across Europe. [ABSTRACT FROM AUTHOR]

Christine Lagarde has praised Europe's achievement in developing the climate finance market, which she said was now dominated by paper denominated in euros. [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]

The CLO is one of the more transatlantic sectors in securitization, and has grown more so in the past year as US managers make new inroads in Europe. However, both markets grapple with unique issues. In the US, a rocky corporate credit landscape has put the fear of widespread downgrades front and centre, while in Europe, the space is getting crowded and competition for collateral and persistent negative rates weigh on the sector. Both markets in 2020 are headed for an inflection point. Max Adams and Tom Brown report [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]

Some covered bonds issued recently have lacked sparkle, causing concern over the outlook. Even so, spreads still have good scope to tighten, especially in core Europe and the short end of the curve, though possibly not until the start of October, said two traders on Friday. [ABSTRACT FROM AUTHOR]

The frenzy of investment grade corporate bond issuance in Europe intensified on Thursday, when eight companies came to market, issuing a total of €6.6bn of paper in euros. That brought the total for the first four days of this week to over €20bn. Despite the heavy supply, issuers have found sufficient demand to support their notes. [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]

The financial institutions bond market is showing no signs of fatigue in Europe, with US financial services company Jefferies Group preferring euros over dollars for the first time since 2014 on Friday. There was some debate about fair value for its €500m deal, given the lack of outstanding comparables. [ABSTRACT FROM AUTHOR]

LONDON PRIVATE DEBT ROUNDTABLE The UK's private debt market is one of the most vibrant in Europe. London is the most active centre in Europe for US private placement investing, and UK borrowers have longstanding links with that market. [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]

International Personal Finance, the consumer finance company active in eastern Europe and Mexico, is issuing a rare UK retail-targeted bond, in a market that has almost dried up. [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]