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Issa brothers and private equity firm TDR used property sale and leasebacks as well as borrowing against ground rents
Macro-linked debt could be tied to GDP and reforms and may help attract investors back to emerging markets
Apollo issues record $40bn of loans in the first quarter, mirroring growth at rivals including KKR and Blackstone
Also in today’s newsletter, the upside to Italy’s Enel missing its climate target
Ft. Bad some news for the non-US Anglosphere
The $335bn manager already has $14bn in active fixed-income ETFs in the US and is eyeing rapid growth in demand globally
How western corporates should (belatedly) think about their Russia exposure
Also in this newsletter: former executive of a scandal-embroiled Polish oil group is running for a seat in EU parliament
Market stress during the period of rising interest rates has prompted more scrutiny — and new rules
The capital instruments introduce a range of risks that are frequently misunderstood
In today’s climate, public markets do not provide enough diversification
Tape, measured
Efama president says small group of states could forge ahead and warns delay hands ‘ever-increasing advantages’ to US
Agreement would give senior creditors control of reorganised co-working company in exchange for $450mn
Regional banks have been piling into long-dated sovereign bonds since January
The combination of slower growth and nagging inflation is an unsettling mix
Also in today’s newsletter, meet the new players in the sustainable bond issuance space
Creditors holding £5bn of debt have been spooked by default of parent company this month
Loosening credit agreements mean traditional investors who once could avoid messy legal battles are having to evolve
Soon-to-launch venture marks bond pioneer’s third attempt to break stranglehold of Chicago’s CME
Allocations represented only 16% of total new money garnered by ETFs, down from 65% during highs of 2022
New figures show that default and recovery rates compare favourably with other debt asset classes
An accidental FT Alphaville experiment
While base case remains reduction in borrowing costs, options market shows a 20% probability of increase
Investors grow nervous over financing technique likely to be used by government for future projects
International Edition