Credit - 2006-10-01
Articles in this issue
Winner: Surf
In our monthly roundup of innovative deals in the credit markets, we highlight ABN Amro's groundbreaking Surf deal, Calyon's Confluent CLO and Landsbanki's dollar issue
Kevin Colglazier
The head of fixed income at Standard Asset Management in London, discusses the firm's activity in emerging markets
Investment grade
Secondary market liquidity
Primary markets buoyed by bumper summer
Strong supply levels during August have forced a reappraisal of new issuance estimates for 2006, but an increasingly attractive syndicated loan market may counteract this trend
Sunay shah
The CEO and co-founder of CDO Software talks to Hardeep Dhillon about his aim to bring more transparency to the increasingly complex and opaque world of CDOs
Confusion reigns in spain over securitisation rules
A three-pronged law change passed at the back end of 2005 was meant to open up Spain's securitisation market but new issuance has not been forthcoming. Hardeep Dhillon reports on what's blocking the pipeline
Peter Bentley
Pimco's senior corporate bond manager gives an insight into the factors that affect the investment decisions of the world's largest fixed-income asset manager. Interview by Hardeep Dhillon
Greenspan's conundrum
Market graphic
Back to basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask... Christopher Davenport of Citigroup's convertible bonds group in London explains the basics of convertible bonds
High yield
Secondary market liquidity
GUS bondholders demand improved deal
The impasse that has followed bondholders' rejection of GUS's offer to repay its outstanding £350m bond at par hinges on whether the retailer has technically defaulted on the deal terms
The EDS dustbin
As the market talks up CDS of ABS and loan CDS as the next big things, StreetCred warns readers not to forget the fate of equity default swaps
Industry unites against FSA's benchmark pricing proposal for MiFID
FSA plans to impose a benchmark-based pricing system on dealer-led markets have been savaged within the industry. The main objections revolve around liquidity
Which STP service is the best fit for you?
Plugging in to STP
High yield
Talking point
Upwardly mobile
Korea
Upgrading the rating process
As the debate rages over the usefulness of credit ratings, Moody's unveils a set of credit risk indicators derived from market movements. Will 'market implied ratings' silence the agencies' critics? Nikki Marmery investigates