Defaults by stealth are rare
Will bond investors strike out?
Deals in Focus: ICICI Bank
Syndicated loans: Back in business
Market analysis: Correlation and default
Profile: Angus Whelchel
Buy-side participants at the latest Credit Institute event acknowledged haircuts on senior unsecured debt are looking increasingly likely as regulators move to introduce new special resolution regimes.
Asia cross-border (investment grade) deal of the year – Cheung Kong Infrastructure Holdings
Asia cross-border (high yield) deal of the year – STATS ChipPAC
Asia local currency deal of the year – Republic of the Philippines
Middle East deal of the year – Emirate of Dubai
Africa deal of the year – Republic of South Africa
Emerging Europe deal of the year – TNK-BP
Latin America deal of the year – Votorantim
US securitisation of the year – FDIC
Europe securitisation of the year – Arran Residential Mortgages
Covered bond of the year – CIBC
Sovereign bond of the year – Kingdom of Spain
Supranational bond of the year – IBRD
Regulators may be sold on the idea of banks issuing loss-absorbing contingent convertible securities, but panellists at the latest Credit Institute event questioned whether there is a natural investor base for these instruments.
Dollar investment grade (financial) deal of the year – Berkshire Hathaway
Dollar investment grade (corporate) deal of the year – BP
Islamic finance deal of the year – Government of Malaysia