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
News from the frontier: Africa leads emerging market bond revival
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◆ Outsiders open EM investors’ wallets ◆ European banks let their hair down in dollar market, still shy in euros ◆ Digital innovation in Frankfurt with DZ Bank
Angola and African telecom company Helios Towers were hardly the issuers anyone expected to restart bond issuance from central and eastern Europe, the Middle East and Africa.
The Middle East war stopped all sales for three weeks, and bankers were looking for a mainstream, investment grade issuer to reopen the market.
But this week it was speculative grade African borrowers — as well as the Serbian republic within Bosnia-Herzegovina — that performed that duty, with successful deals that showed emerging market bond investors are willing to buy.
Although the three issuers were all from the risky end of the spectrum, they are protected from the war’s effects. Whether investors are willing to steer closer to the Gulf’s woes will be tested in the coming weeks.
Another restart happened in euro bonds for European financial institutions. The market has been bare of new issues all month. For a variety of reasons European banks have avoided their home market. Dealmaking picked up this week, with Bank of Ireland showing the way in euros — but most of the action was still in dollars.
Frankfurt is an important node on Europe’s capital market blockchain network, and this week Matthias Bergner, DZ Bank’s group treasurer, joins the podcast to discuss DZ’s latest pilot digital bond, sold to KfW. DZ reckons it is the first bond in which the full lifecycle is on chain.
Digitalising the bond market - sponsored interview with KfW
In an interview on the GlobalCapital podcast this week, KfW's Tim Meirer and Bert Staufenbiel discuss how to move to the next stage in introducing distributed ledger technology to the bond market. They are convinced it can save time, friction, cost and risk.
Interoperability of systems all along the value chain is central to the effort. Meirer and Staufenbiel highlight four essential avenues for progress: open standards, public-private partnerships, modular designs and continuous dialogue.
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