Investment Banking

The Norwegian Government Pension Fund Global bought 49.9 percent of five office properties in the US, its first investment in the world’s largest real estate market, through a joint venture with TIAA-CREF.

Some of the banks that qualify for a potential split under draft legislation agreed by the German government last week may choose to stop the restricted activities rather than incur the costs of separation, as the affected businesses make relatively small contributions to earnings, Fitch Ratings says.

The European Securities and Markets Authority (ESMA) has published a Call for Evidence on the evaluation of the Regulation (EU) No236/2012 on short selling and certain aspects of credit default swaps (SSR).

Fitch Ratings has assigned Hazine Mustesarligi Varlik Kiralama Anonim Sirketi’s (Hazine) USD1.5bn of global certificates (Sukuk), due 26 March 2018, a ’BBB-’ rating. The certificates have a profit rate of 2.803%.

On Wednesday, January 16, 2013, the African Development Bank (AfDB), rated Aaa/AAA/AAA, priced a $1 billion fixed rate US Dollar Global benchmark due March 15, 2018. The transaction pays a coupon of 0.875 per cent and a spread of five basis points over Mid-Swaps...