Debt

As an ever-more-aggressive rate-hiking cycle rocks the financial markets, might corporate credit offer a space that is both remunerative and relatively calm? Last week brought the third consecutive 75-basis-point rate hike from the U.S. Federal Reserve. The market had even priced in a meaningful risk of a full percentage point.

One billion euro for new growth and financing opportunities to over 100 European SMEs and Mid-Caps affected by the economic impacts of the pandemic.

CNP Assurances has successfully completed its first Tier 3 subordinated issue of the year, placing €500 million worth of seven-year notes due 27 January 2029 and paying interest at 1.25%. The notes qualify as Tier 3 capital under Solvency II.

To help increase access to longer-term, affordable mortgages and housing in Tanzania, IFC subscribed to a corporate bond issued by the Tanzania Mortgage Refinance Company (TMRC), which was listed today on the Dar es Salaam Stock Exchange.

Credit conditions for European banks are normalising and prospects for the second half of the year look bright. A return to pre-crisis operating income with higher loss absorption buffers accumulated during the crisis will facilitate management of NPLs.