The average yield of the iBoxx GBP Banks Subordinated index was 2.866% at Wednesday's close, showing how Co-op Bank's funding costs remain elevated well above its peers'. Li Auto – much like Tesla – is likely to need to raise capital regularly to develop new models, while KE needs continuous investment to upgrade its platforms. 8m shares (100% sec) at $31.95 versus $31.97 last sale and $35.80 at launch. Structure changed from original one share, one-half warrant. The buyer base is expected to be made up of a mix of dedicated emerging markets and high-yield accounts. Upsized from 3.75m shares.
As part of Grupo IF, we are affiliated with financial institutions in Central and South America, and with our corporate parent in Spain. Journal of International Financial Management & Accounting. NewHold Investment (US, SPAC) – $150m IPO.
• USD/JPY was nearing the 50% Fibo of July’s slide and the daily kijun there at 106.18, followed by the 61.8% Fibo and mid-June range lows at 106.64. The transaction, split across three, five, seven and 10-year senior secured tranches, will help Delek finance debt undertaken for the development of the Leviathan field, one of the largest natural gas fields in the eastern Mediterranean. CITI, GUGG, BARC. MS, BARC, JEFF, KEYB. • The EUR/USD pullback followed data showing a slightly worse-than-expected record slump in euro zone Q2 GDP, a European stocks slide and market concerns about the impact of the euro's rapid rise on European exporters. But the Federal Reserve can also act as the sole purchaser of a bond issuance from an eligible issuer and more details on how borrowers and underwriters could access that support are coming into focus. magazine is a great source of information for news and financial updates. But the pound fared better than the euro, with EUR/GBP down more than 0.5% and below its 55-day moving average for the first time since May. "During the peak of the [recent] crisis there was a lot of leverage that came into question across different pockets of the market,” said Jasdeep Singh Aneja, head of European macro credit trading at Goldman Sachs. PennyMac Financial Services, the second-largest private originator, has a 2.8% market share.
This is a good opportunity to move the “IFR awards year” (currently November 16 to November 15) to an actual calendar year.
JPM, MS, BARC.
20m units (100% prim) at $10.00.
DARKENING OUTLOOK Trading in synthetic CDOs plummeted after the 2008 financial crisis, not least because of the role some types of this product played in spreading sub-prime mortgage losses throughout the system. • Sterling nearly reached its March 9 pre-pandemic peak at 1.3200 before retreating from its 1.3170 high toward unchanged after the London close and well after British Prime Minister Boris Johnson postponed the next stage of reopening due to rising COVID-19 infections. 20m units (100% prim) at $10.00.
BTG, BOFA, ITAU, BRAD, BBINV.Although in the current market environment there is little need for companies to use the Federal Reserve's primary market corporate credit facility, details continue to trickle out about how the program would work should the market come under stress again.
15m units (100% prim) at $10.00. STRONG RALLY The US Federal Reserve’s unprecedented commitment in March to buy corporate debt – along with increases in similar schemes from the European Central Bank and the Bank of England – underpinned credit markets and helped fuel a strong rally.