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    Corporate bonds

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    • Wednesday, 29 March, 2023
      Exchange traded funds
      Rules on listing Coco bond ETFs changed after first approvals

      The two existing funds have suffered steep losses since Credit Suisse’s AT1 bonds were written down to zero

    • Wednesday, 29 March, 2023
      Credit Suisse sale ‘forever impairs’ ability of banks to issue AT1s, investors warn

      Additional tier 1 bond market faces ‘risk premium repricing’ in wake of Swiss bank’s debt being written down ahead of equity

    • Tuesday, 28 March, 2023
      High yield bonds
      US label maker breaks drought in junk bond issuance since SVB failure

      High-yield market had ground to a halt following collapse of Silicon Valley Bank

    • Tuesday, 28 March, 2023
      LexHigh yield bonds
      Junk bond market: securities market may replace bank lending, uneasily Premium content

      After a roaring start to the year, a downturn in March shows that risk appetites are clearly inhibited

    • Thursday, 23 March, 2023
      Credit Suisse Group AG
      Swiss regulator defends $17bn wipeout of AT1 bonds in Credit Suisse deal

      Writedown after takeover by UBS enraged holders of risky bonds

    • Wednesday, 22 March, 2023
      Credit Suisse Group AG
      US bondholders prepare to sue Swiss government over $17bn Credit Suisse wipeout

      Distressed asset investor David Tepper says trust in European debt issuance at stake

    • Wednesday, 22 March, 2023
      LexCredit Suisse Group AG
      Credit Suisse AT1s: legal battle may bake in a Swiss discount Premium content

      The case could prove excruciating for Switzerland

    • Wednesday, 22 March, 2023
      Banks
      Credit Suisse fallout threatens to halt issuance of risky bank debt

      Some of Asia’s largest lenders may pause sales of additional tier 1 bonds after $17bn wipeout at Swiss bank

    • Tuesday, 21 March, 2023
      Credit Suisse Group AG
      Asia investors ‘gobsmacked’ by $17bn Credit Suisse bond wipeout

      Risky AT1 debt was popular in the region and a sell-off has sparked margin calls

    • Tuesday, 21 March, 2023
      European banks
      EU vows to respect bondholders’ rights after Credit Suisse turmoil

      Single Resolution Board chair adamant Brussels will not take investors in bank debt ‘by surprise’

    • Monday, 20 March, 2023
      Banks in turmoil
      Additional tier 1 bonds: the wiped-out debt at centre of Credit Suisse takeover

      Controversy around decision has rippled across the wider $260bn AT1 market

    • Monday, 20 March, 2023
      LexCredit Suisse Group AG
      Credit Suisse AT1s: investors go loco after Coco no-no Premium content

      Current rout raises awkward questions about how useful these instruments are as capital buffers

    • Monday, 20 March, 2023
      Credit Suisse Group AG
      Credit Suisse bondholders in uproar over $17bn debt wipeout

      ECB raises concerns shareholders were prioritised over investors holding additional tier 1 debt

    • Monday, 20 March, 2023
      Moral Money
      The green goose that ‘laid a golden egg’ Premium content

      Also in today’s newsletter, in first interview as chief executive Mars boss warns companies against fleeing ESG issues

    • Sunday, 19 March, 2023
      Credit Suisse Group AG
      Holders of $17bn of Credit Suisse bonds wiped out under UBS takeover

      Value of risky additional tier 1 debt written down to zero in move that is expected to jolt markets

    • Thursday, 16 March, 2023
      Credit Suisse Group AG
      Credit Suisse bonds sink further into distress

      Swiss lender’s offer to buy back SFr3bn of debt fails to steady prices

    • Monday, 13 March, 2023
      Exchange traded funds
      High yield ETF influence on underlying bond market jumps

      A study of five of the largest ETFs finds they accounted for nearly half the daily trade of the bonds they owned in 2022

    • Friday, 10 March, 2023
      European Central Bank
      Investors nervously watch for impact of ECB shrinking its bond holdings

      Overall borrowing costs for eurozone governments have risen sharply in the past year

    • Thursday, 9 March, 2023
      Exchange traded funds
      Investors pull near record sums from corporate bond ETFs

      Investment grade and high-yield funds had combined outflows of $8.3bn in February

    • Wednesday, 8 March, 2023
      An angel falls from auto heaven

      Biggest downgrade to junk since April 2020

    • Tuesday, 7 March, 2023
      News in-depthPrivate credit
      Private credit groups cut out banks with largest direct loan

      Apollo and Blackstone among those poised to provide $5.5bn of debt to buyout group for purchase of 50% stake in Cotiviti

    • Monday, 6 March, 2023
      Fear of ratings downgrades puts companies off debt-driven deals

      Higher borrowing costs have increased the cost of losing prized investment grade status

    • Thursday, 2 March, 2023
      The name’s Bond. Callable bond

      Leave the bullets at home

    • Wednesday, 1 March, 2023
      Adani Group
      Adani says it has $3bn credit line backed by sovereign wealth fund

      Indian group also tells bondholders it is seeking to borrow extra $800mn for renewables arm

    • Tuesday, 28 February, 2023
      Libor transition
      Over $1tn of risky US loans still shackled to Libor as deadline looms

      Borrowers and lenders in $1.4tn leveraged loan market scrap over fine print of replacing scandal-hit benchmark

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