Search results for

Dividend swaps market soars as investors profit.

The reinsurer’s sophisticated use of the ABS market is now matched by its use of the unsecured markets.

Since 2004, privatization in Ukraine has sought to follow an auction system but, as restrictions and requirements are placed on bidders, the winning bid is often poorly contested and so poorly priced. An example of this was seen when Luhanskteplovoz, a monopoly Ukrainian producer of locomotives and trams, was sold in March to a Russian bidder for $60 million in a non-contested auction.

In late May, Fitch Ratings cautioned that the outlook for debt issuance from central and eastern Europe might not be quite as rosy as some bond originators would have us believe. Although acknowledging that macroeconomic fundamentals in the region are strong and that the global environment remains generally supportive, the London-based ratings agency warned that substantial external financing requirements in some states mean that they are relatively highly exposed to a potential abrupt tightening in global liquidity. "Sovereign credit ratings in emerging Europe have risen further over the past 12 months, with seven upgrades and no downgrades," says Ed Parker, head of Fitch’s emerging Europe sovereign group. "However, upward momentum may be running out of juice, with only three countries – Armenia, Kazakhstan and Ukraine – now on a positive outlook and two – Hungary and Latvia – on a negative outlook."

Alcentra has enough experience of the leveraged loans business to know that some deals are best left on the table, even in a bull market. Loyal staff and a very low default rate testify to its success.

Funding officials at the largest 250 borrowers on the global debt capital markets were asked to rate their top three preferred banks in one of three categories: services to clients, major currency sectors, and by product type.

It’s not often that you’ll find the majority of Euromoney staff in the same room together, what with vital conferences, meetings and sports-betting events going on all around the world. But to find them all in a church is surely a first.

The private equity house has profound knowledge of both sides of the debt markets.

Hennessee’s 13th annual hedge fund manager survey reveals that managers are still shorting despite concerns that uptrending markets were shifting funds to long-only strategies. Hedge funds surveyed had a net exposure of +47%. Average gross exposure was 171%, the highest since the survey in 1995, indicating that more leverage is being used to generate returns. Charles Gradante of the Hennessee Group commented: "Despite the increase in assets and leverage throughout the industry, net exposures continue to remain fairly constant, indicating funds are finding a reasonable amount of short positions. However, we are seeing increased use of derivatives such as credit default swaps and ETFs, which we feel will become more common as the ability to borrow stocks and bonds declines.

Never let it be said that Euromoney hacks won’t go that extra mile to ensure our readers enjoy the hottest stories from the world’s frontier markets.

Institutional investors might reduce private equity investments because of the growing number of club deals.

In most normal markets, when enough investors acknowledge the existence of a bubble, it will burst, so why has China’s ‘A’ share market, arguably the world’s most obvious stock market bubble, not popped yet?