Credit - Credit June 2011
Despite previous announcements by European authorities that haircuts would not be imposed on investors in restructurings involving Eurozone sovereigns and banks before 2013, with each passing month that promise seems unlikely to be kept
The second-largest bank in Cyprus is in the market with an offer to convert shares into convertible contingent capital securities, but is it a curiosity piece or the genuine article?
The Eurozone crisis has already forced three members of the currency union to take EU/IMF bailouts but Spain, the next potential target of investors, is unlikely to follow
An increase in floating rate issuance may be the start of a prolonged trend, as investors look for protection against possible interest rate hikes
Yield on new 2021 Senegal bond tightens over 100bp after issue; investors suggest there is room for further tightening
Subordinated bondholders in Allied Irish Bank are faced with an unappealing dilemma: accept a coercive exchange offer that could see some lose up to 90% of their investments or refuse, and take the matter to the courts. But with the Irish government…
Regulators have had their say; the agencies themselves have implemented changes to methodologies and processes; but how would investors fix the credit ratings business?
Securitisation lawyer Jonathan Walsh explains what regulatory and legal changes will mean for the rating agencies
The SEC and EU have announced tough measures designed to limit the influence of credit ratings on the investment process. Credit magazine talks to the agencies about their efforts to restore their reputations, and asks investors about what role rating…
Don’t believe the hype – Jim Walker profile
Credit Market Data Roundup – June 2011
Leverage: friend or foe?
Investor profile: Glendevon King Asset Management
Battle over Basel
From big picture to particular focus: Kevin Anderson profile
Making good on bad assets
The change to convertibles
Trading talk: June 2011
That’s entertainment: Caveat Lector column
When the tiger bites back: Tanuj Khosla column
The modification mistake: Joseph Mason column
Aviva adds senior analysts to London team
HSBC hires new trading heads for high yield and loans
Investec new home for Lloyds leavers
Van Kan the man for BNP Paribas
Is Butterworth the money at State Street?
Jefferies hires Japan fixed income head
Moon rises over StormHarbour