The dollar market's rude health was amply demonstrated on March 5 when BP made its largest ever single visit to the bond market, a $3.25 billion transaction spread over three tranches. The issue came the day after BP filed its 20-F form with the SEC, a document foreign issuers of private securities in the US are obliged to complete."In common with all the oil majors given the direction of the oil price over the last year, BP's funding requirements for working capital and capex have gone up,"
The week in Risk.net, February 10-16 2017Receive this by email
- Operational risk in financial services: Navigating risk management challenges in an uncertain world
- UK banks face increased XVA burden after ring-fencing
- State aid, Brexit’s impact on Mifid, and the Fed embattled
- Banks get no relief from CFTC’s variation margin delay
- Three Japanese banks consider new CVA approach