The GlobalCapital Podcast
A weekly podcast from GlobalCapital, the capital markets news service based in London and New York, discussing its most interesting stories from around the world.
Every Friday, listen to lively discussion about the very latest themes, the most innovative and important bond and equity issues and syndicated loans and much more from the capital markets.
This podcast is for anyone working in - or who wants to work in - the capital markets from investment bankers, to funding and treasury officials, investors, lawyers, analysts, NGOs and lobbyists, regulators and policy makers, and analysts.
GlobalCapital has been the "voice of the markets" for over 35 years, covering bond, loan, equity and securitisation markets around the world.
We cover everything from public sector bond issuers, financial institutions, emerging markets and investment grade corporate bonds and loans to securitisation (including CLOs and ABS), regulation and market news as well as industry gossip.
GlobalCapital is written for capital markets professionals but the podcast is of value to anyone with an interest in the industry, whether you have been working in it for as long as we have, or are looking to make your first career move into it.
This podcast is a commute-sized slice of everything that's most interesting from the world's capital markets with the aim of helping you sound smarter in your morning meeting, or making you stand out from the crowd of other hopefuls when kick-starting your career.
And don't forget, you can #AskGC anything you like and we will select the best questions to answer on the show.
Contact us at podcast@globalcapital.com
The GlobalCapital Podcast
The bull run for bank bonds and scope for improvement in the SLB market
- How much longer can the extraordinary run of bank bond issuance last?
- Are sustainability-linked bonds too complicated to be meaningful?
- New bond, old tricks: the art of underwriting returns
It has been a record November for bank bond issuance and one of the busiest months for that market ever. That is, of course, unusual. What is even more unusual is that many in the market expect the pace of issuance to run long into December.
Typically, the market dies down after the US Thanksgiving holiday at the end of November. We look into what is driving this late spree of deals and ask what might stop it.
Sustainability-linked bonds are not straightforward products and this week, one from Valeo, the French car parts maker, had investors expressing frustration. The deal itself was a success but investors are concerned about the complexity of some of the environmental targets the issuer and others like it are aiming for. They argue they lack the expertise to judge whether ambitions around emissions are meaningful. We look at their complaints and how an industry geared towards assessing financial performance can come to judge environmental progress.
Finally, we look into a bond issue from Slovenia’s largest bank, NLB. The issuer tried the deal with a syndicate of banks but postponed it only to return with the same deal one trading day later with only one lead manager mandated, which had offered to underwrite the bond. We ask whether the art of dealers buying deals is making a comeback.