Latest articles from Issuers

Sanofi Aventis defies global turmoil to close $20bn takeover of Genzyme

June 1, 2011

The caution in the markets following the tsunami in Japan and unrest in north Africa provided an unpromising backdrop to French company Sanofi Aventis's $20bn takeover of US biotech firm Genzyme. However, the deal passed off as a resounding success.

Credit Suisse defied CoCo critics with $2bn issue

May 4, 2011

Contingent capital is still the subject of furious debate. Some have called it a dangerous instrument, while others say it may not do what regulators want. Some argue that it will be difficult to create a market big enough to absorb the needs of the banking sector if it becomes a compulsory part of the capital structure. But none of this stopped Credit Suisse's $2bn issue from being a storming success. 

Bank of Moscow

Bank of Moscow debut succeeds in difficult environment

March 18, 2011

Bank of Moscow's debut Eurobond could hardly have been launched at a more difficult time. The political intrigue surrounding the mayor of Moscow was compounded by a potential change of ownership at the bank and a downgrading by Moody's.

Saila Miettinen-Lähde, Talvivaara’s chief financial officer

Convertible bond fuels Talvivaara expansion

February 14, 2011

A London-listed, Finland-based mining company, Talvivaara, needed additional funds to expand the size and scope of its operations. After considering all the options, a speedy convertible bond issue was seen as the way to do it. 

Gerassimos Thomas

The EU's first EFSM deal achieves record oversubscription

January 28, 2011

The European Commission issued its first European Financial Stabilisation Mechanism deal on January 5, achieving a record oversubscription for a supranational issue.

Xhentil Demiraj, debt director, Albanian Ministry of Finance

Albania times Eurobond debut to perfection

December 23, 2010

Despite its close proximity to crisis-hit Greece, Albania made its first foray into the Eurobond market last year. After agonising over when to issue the deal in such a volatile market, it would seem that the timing of the launch was just right. Writer Joanne Hart

Prime mover: Investec's use of the securitisation mortgage market has led to an appetite for a return in 2011

Investec takes first-mover advantage

December 8, 2010

Investec's brave move to launch a sterling bond transaction backed by subprime mortgages, a market that had been closed since 2007, appears to have paid off. Writer Joanne Hart

Petr Pavelek

Czechs fall back into favour

December 8, 2010

The launch of a €2bn, 10-year bond in late summer has stirred international interest in the Czech Republic. Writer Joanne Hart

Tactics for a new age

August 30, 2010

In an attempt to appease regulators, banks are issuing Tier 1 debt capital that converts into equity if a certain trigger point is reached. However, only the biggest names - and those least likely to need to convert debt to equity - will be able to attract investor support for such issuance. Writer Charlie Corbett

VTB swaps quantity for quality

July 28, 2010

Russia's second largest bank has grown its assets more than 30 times over the past 10 years, but its new chief financial officer explains that a more measured business strategy has altered the bank's wholesale funding priorities. Writer Philip Alexander

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