Search

Focuses on the business performance of medium term notes and commercial paper market in Europe, as of April 30, 2004. Increase in the interest rate of securities; Reason for the decline of bond issues; Percentage increase in the asset backed securities.

The article reports on the bond issue by Nokia in Europe. According to bookrunners, the issuer had run a Europe wide roadshow about extending its commercial paper issued for the acquisition of Navteq, but instead started to consider a bond transaction to refinance the paper. They mention that the company's results showed that it had been affected by the macroeconomic outlook.

The article discusses the highlights of the European Union's (EU) draft paper, entitled "The Long-Term Financing of the European Economy." According to EU officials, securitisation could help in reducing reliance on bank funding. They point out the need to develop corporate bond markets in Europe as an alternative to bank funding. They cite the Prime Collateralised Securities label initiative as the industry best practices on loan quality, transparency and simplicity.

Presents data on the status of the medium term note (MTN) and commercial paper market in Europe as of July 7, 2005. Top Euro MTN issuers; Top Euro MTN issuing countries; Bookrunners and lead dealers included in the MTN and corporate issuance league tables.

Presents information on the general status of medium term notes (MTN) and commercial paper (CP) issues in Europe as of October 28, 2004. Top Euro MTN Issuers of the Week; Top Transport/Shipping Euro MTN Issuers by Outstandings; Asset Backed Euro CP Outstandings.

The article focuses on the developments in the commercial paper market of Europe as of April 30, 2010. It was observed that investors have been ending their paper while others decided to cut their lines on Portuguese banks backed by the sovereign due to the downgrading of the country's local and foreign currency sovereign issuer credit rating and local and foreign currency short-term ratings. Details related to the bond issuances of the Republic of Portugal, Millennium BCP, and Allied Irish Banks are also given.

Presents an update on the European commercial paper market as of August 12, 2005. Indications of investor confidence; Total value of bonds issued by Spintab in euro and sterling denomination; Percentage of interest rates raised by the Federal Open Market Committee.

The article reports on the sale of a large volume of European commercial paper by sovereign, supranational and agency borrowers in September 2009. According to traders, the move was at least partly because of the favourable basis swap from dollars into euros. It is noted that the governments/sovereign issuance totalled 10.53 billion U.S. dollars equivalent.

The article presents an update on the cédulas market in Europe as of April 2007. Grupo Banco Popular priced a €2 billion 10 year issue at 6 basis points (bp) over mid-swaps. Caja Madrid offers a €1.5 billion 15 year cédulas hipotecarias at 8bp over mid-swaps while adding €500 million to its €1.5 billion March 2036 deal at 10bp over mid-swaps. A 10 year paper from Banco Bilbao Vizcaya Argentaria issued in January is trading at 4bp/3bp over.

The article presents an update on the European commercial paper markets as of March 17, 2006. Euro-denominated issuance picked up in medium and longer dated tenors. The market expected the Federal Open Market Committee to raise dollar rates on March 27 and 28 and on May 10. By the close of trading on March 16, banks had taken 40.78 percent of new issuance, the asset-backed sector took 30.19 percent, while sovereigns and supranationals took 4.41 percent and 3.71 percent respectively.

Evaluates several international bond issues in the swiss franc market as of September 1, 2000. Bayerische Hypo-und Vereinsbank AG; General Electric Capital Corp.; Landwirtzchaftliche Rentenbank; Ono Sokki Co. Ltd.; Baloise Holding.

Reports on the condition of the Euro commercial paper market (CP) in Europe as of April 2005. Percentage of the deals accounted to euro issuance; Target deals by investors in dollars; Plans of Banco Santander Central Hispano regarding a EuroCP programme.

Reports on the increase in the total issuance of European commercial papers (EuroCP) for the week ended July 8, 2004. Percentage of the proposed deals that accounted to euro, U.S. dollar and sterling; Status of the sterling market on previous weeks; Institutions that issue the bulk of EuroCP and which have maintained dominant market share of deal flow.

The article reports on strong demand for short-dated paper from double-B issuers in the European high yield market.

The article focuses on the recovery in the credit fault swap markets in the U.S. and in Europe in January 2006. The recovery was influenced by strong purchase of cash bonds. It is believed that the iTraxx Europe and the Crossover Indexes are only back to where they were before the Christmas slowdown and sell-off. Despite the recovery of most sectors, it is expected that the European paper products industry will struggle in the first half of the year.

Presents an update on the European commercial paper (ECP) market as of October 7, 2005. Information on the coupon ticket printed by BCP Finance Bank; Plan of the Kingdom of Denmark to return to the ECP market through a sovereign bond issue by November; Stock performance of Euro denominated issuance, dollar and sterling bonds.

Presents updates on corporate bonds as of November 12, 2004. Decision of Ford Motor Credit Co. concerning the terms on its bond issue; Impact of several challenges in the U.S. automobile sector on the corporate bond market in Europe; Information on a subordinated debt to be issued by automobile financing company Volkswagen Bank.

The article reports that triple-A borrowers are taking advantage of an attractive basis swap by selling dollar bonds to the European commercial paper market. The maturity of the deals varied from two weeks to six months, and the largest bond issued was a 2.2-billion U.S. dollar ticket by the Netherlands. Some of the borrowers who issued bonds include Rabobank Nederland, Danske Bank, and Svensk Exportkredit.

The article offers updates on the medium term note (MTN) and commercial paper corporate issuance market in Europe as of January 2006. The InterNotes platform being managed by Incapital Europe and Bank of America Securities will be signed by United Mexican States. JP Morgan plans to launch a constant maturity swap-rate linked and inflation-linked hybrid bond. Standard & Poor's rated the MTN program from KfW at AAA/A1+. The European MTN of Banca Popolare di Milano was increased from Euro2 billion to Euro4 billion. A global note issuance program valued at $12 billion was launched by Canadian Imperial Bank of Commerce.

Presents an update on the Euro commercial paper market as of October 2005. Structure of a five year bond issued by the Kingdom of Denmark; Impact of interest rates from Asia on the sovereign market; Status of bond issues in non-core currencies.

Presents updates on retail currencies as of March 2005. Expansion of the Turkish lira Eurobond market following the issuance of currency paper by Volkswagen; Information on koruna deal issued by German bank WestLB; Issuance of tranche bonds by the City of Stockholm in Sweden.

Reports on the bond issued by Kreditanstalt f uuml r Wiederaufbau (KfW) amidst the re-opening of Federal Home Loan Mortgage Corporation's euro deals in Europe as of June 2002. Information on how the KfW deal was priced by bookrunners Barclays Capital and Goldman Sachs; Aim of KfW for the bond; Buyback programs of Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association.

Interviews Andy Longden, group treasurer of British Telecom, on the launching of its euro and sterling-denominated bond issue and the challenges his company faced in funding its projects. His view on the success of the bond issuance; His statement on the performance of their investment banks; Extent to which investors vary from one country to the other country.

The article offers update on medium-term notes and commercial papers in Europe. Bank of Scotland's £9.6 billion of covered bonds have been formatted with Bermudan issuer calls. Meanwhile, Merrill Lynch has launched two €100 million structured note public offers in Austria, Belgium, Germany and the Netherlands. The deals include a floored Euribor floater which has a minimum coupon of 5 percent plus any increase in Euribor above 4.5 percent. The other deal is an equity index linked trade.

Presents updates on medium-term note (MTN) and commercial paper issues in Europe as of January 30, 2004. Launch of Deutsche Hypothekenbank's bond from its debt issuance programme; Rating of Republic of Turkey's MTN; Increase in the size of the EuroMTN facility of Banca Lombarda.

Presents tabular and graphical representations of the top multilateral trade negotiations markets and commercial paper issues in Europe as of June 26, 2003. Breakdown by Moody's ratings and by issuer type.

Provides information on several international bond issues in Euro floating rate notes with market appraisal and bookrunners' comments launched as of August 3, 2000. Issue offered by Bancaja International Finance; Maturity date of the issue from Banque Federative du Credit Mutuel; Lead manager of the bond issue launched by Bayerische Handelsbank AG.

The article discusses the response of investors on subordinated and hybrid bonds issued in the European market. As they are attracted with these offerings, spreads were driven. This has resulted in questionable valuations of non-step-up structures and features such as mandatory deferral triggers. Some investors now consider the market overvalued, although the recent credit market weakness is providing selective opportunities.

Presents list of euro bond deals in Europe as of August 18, 2000. Allianz Finance BV; Bayerische Hypound Vereinsbank AG; Deutsche Hypothekenbank Frankfurt-Hamburg AG; Escada AG.

The article reports on the 1.5 billion euro lower tier two capital bond issue launched by Lloyds TSB Bank at the European financial institutions bond market on March 17, 2010. The lead managers of the issue are Deutsche Bank, Goldman Sachs, the Hong Kong and Shanghai Banking Corp. (HSBC), and Lloyds. The bond will mature on March 24, 2020.

The article offers information on the bond issue of Länderschatzanweisung 29. It states that the deal go international with demand from Asia as well as Benelux and France. It mentions that the issue was priced in line with the mid-swaps less 6 basis points (bp) guidance and the zero risk weighing serves as an attraction to investors that want to switch out of Pfandbrief paper which was also trading around the same level.

The article provides information on a deal issued by Land Niedersachsen in euros. The marketing level for the transaction has been set at 5.25 basis point through mid-swaps and were able to sell approximately half the paper. It is expected that the bonds left will be sold. Sales in Netherlands and eastern Europe is perceived.

Presents updates on issues and events related to the European bond market as of April 8, 2004. Move of Berlin-Hannoversche Hypothekenbank to increase its mortgage Pfandbrief; Total value of bonds added to the public sector Pfandbrief being offered by Dexia Hypothekenbank Berlin to investors; Launching of the public sector Pfandbrief floater by the Deutsche Genossenschafts-Hypothekenbank.

Presents a list of European bond issues in Swiss francs as of August 18, 2000. Kanton Basel-Stadt; Luzerner Kantonalbank.

The article reports that a sell-off in peripheral European sovereign paper in July 2012 has boosted investor participation in Intesa Sanpaolo's subordinated and senior unsecured tender. 1.15 billion euros of tier one and tier two subordinated bonds were bought back by Intesa. A banker involved in the deal claims that the transaction benefited from a bout of uncertainty and poor liquidity in the secondary market for peripheral European banks and sovereigns.

The article reports on the widening of Southern European peripheral bank papers as panic took hold of the secondary senior unsecured market in the wake of weak Spanish and French government bond auctions. According to market participants, Italian paper from second tier financial institutions traded on a cash price, rather than spread basis. A survey of investors conducted by Fitch determined that banks face the greatest refinancing challenge in 2012.

This article focuses on a bond issuance from Sappi, the South African paper firm which is refinancing bank debt. The issuance is worth 720 million U.S. dollars. Particular focus is given to the expected ratings of the five year non-call three year dual tranche issue. According to market participants, the level of demand shown for the deal reflects the increasing bouyancy of the high yield market in Europe. A 250 million euro revolver is also expected to be signed by Sappi.

The article reports on the resumption of bond issuance in the European market in September 2007. The author relates that expectations that financial institutions will be ready to resume bond issuance are fading. The author states that market participants in Europe are concerned about demand for senior paper and subordinated bonds. A chart on corporate bonds is also presented.

The article looks at the activities and performance of the Euro-bond market in 2006. It cites that the bond issuance of European Investment Bank in May 2005 is superior to the deal of KfW in 2006. In the covered bond market, the decline in demand for long dated paper has been most evident. It enumerates the benefits of the benchmark bonds issued by Compagnie de Financement Foncier in February.

Provides information on the companies in Europe which have launched euro denominated bond offerings as of February 2, 2001. Bank of Austria; BNP Paribas SA; Cirio Holding Luxembourg SA; Value of the offerings; Lead managers for the offerings; Credit ratings of companies.

The article examines the business conditions of countries in Europe, Latin America and the Far East as of November 1931. The coincidence of the partial repayment of the Franco-American credit is blamed for the relapse of British sterling. There were improvements in Chilean and Argentine bonds as well as exchange in Argentina and Uruguay. It mentions reports on the revival of Chinese trade in the Shanghai area.

Announces the launching of the largest European corporate bond by Repsol, a national oil and gas company in Spain. Details on the transaction; Repsol's proposed acquisition of Argentina's YPF company; Lead managers of the deal.

The article reports that peripheral bonds are being offloaded by some holders of legacy European residential mortgage-backed paper. The offloading is attributed to the sluggish activity in the secondary market for asset-backed securities (ABS). Piraeus Bank issued 32.50 million U.S. dollars of senior bonds from July 2007 securitization Estia Mortgage Finance II-A which traded at a 65 cash price.

The article reports that more European banks are expected to sell tier two paper as Erste Group wraps up its roadshow in 2012. Among banks considering issuance are Alfa Bank, Citic Bank and Nordea. Also thought to be considering a tier two issue is Raiffeisen Bank International, which met accounts in Hong Kong, China and Singapore earlier in September 2012.

The article reports on the flow of mezzanine paper into Europe's secondary space as the primary issue pipeline remains empty. Roughly 50 items comprising pan-European mezzanine and subordinated bonds across residential and commercial mortgage-backed securities and asset-backed securities have emerged in December 2011. The total flow of mezzanine paper is estimated at 70 to 100 million euros.

The article reports that the Association of British Insurers (AIB) has warned that the proposal of the European Commission that bank bail-ins include senior debt will negatively impact secondary bonds of banks and access to finance. Moody's viewed the commission's proposals as indicating lower support in future for senior bank debt. JPMorgan analysts stated that European banks could see multi-notch rating downgrades.

The article presents information on a bond issued by Crédit Logement. It states that the demand for the bond came from top quality funds and financial institutions like special investment vehicles (SIV). It mentions that the distribution was led by Ireland and France taking 54% and 23% of the paper respectively.

The article presents updates on the Eurobond market. Cédulas Grupo Banco Popular has decided to award the mandate for a 10 year issue to Banco Popular Español, Morgan Stanley, Natixis and UniCredit. The first tap of an AyT Cédulas Cajas flexible issuance program (FIP) was executed by Merrill Lynch.

The article reports on six covered bond issues that totaled 8 billion euro launched in Europe. It is said that the structured covered bond issued by Achmea Hypotheekbank attracted 6.8 billion of orders in a couple of hours. It is mentioned that Caja Madrid benefited from the demand for new credits by offering investors its first cédulas territorales.