Relative value the silver lining in credit correction
Market participants agree that increased relative value opportunities are a likely beneficial result of last week's credit correction, centred on US financial institutions' exposure to sub-prime debt and LBO finance.
KfW completes first deal in Thai baht market
Continuing its reputation for innovation in the international capital markets, on July 27 KfW Bankengruppe (KfW) became the first non-Asian international issuer to complete a Thai baht bond in the local capital market in Thailand.EIB prices NZ$400m Kauri bond
On July 24 the European Investment Bank (EIB) (AAA/Aaa/AAA) priced its inaugural NZ$400 million (US$323 million) five-year Kauri bond. This is the largest fixed rate note transaction in the Kauri bond market.Retail lending continues to hit US FIs
Generally strong results announcements from a series of US banks have been universally impacted by increased provisions for retail bad debt, including ongoing concern regarding the sub-prime mortgage sector.