Debt Capital Markets
Our global debt capital markets team has unparalleled international experience of structuring and executing the largest, most innovative and complex debt transactions anywhere in the world.
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Watch Carson Welsh considers the practical implications of the new Prospectus Regulation for issuers, many of whom will be updating programmes for the first time under the new regulation this year.
Watch Amrita Ahluwalia discusses recent market developments in green and sustainable bonds as well as giving an overview of some of the regulatory initiatives that will impact bond market participants.
Watch Neil Dixon considers interest rate reform and related developments in the bond market.
As 2020 starts in earnest our “back-to-school” publication provides an update of some of the key themes likely to impact wholesale debt issuance in the year ahead, including the Prospectus Regulation, interest rate reform, EU updates to bank prudential rules, green and sustainable finance and Brexit.
The transition away from the London Interbank Offered Rate (LIBOR) and other IBORs is unlike any previous regulatory reform – underpinning loans, debt and derivatives contracts estimated at $350 trillion globally, its scale is potentially larger, it will involve a great number of granular moving parts and is technically challenging.
The new regime established by the Prospectus Regulation (EU 2017/1129) applies in full across the EU from 21 July 2019. The aim of the Regulation is to achieve greater harmonisation of prospectus rules throughout the European Union.
An increasing public awareness of climate change, coupled with the realisation that government action alone will be insufficient to tackle the climate crisis, has led to a growing focus on mobilising private finance to effect climate action. This has seen the green and sustainable bond market expand considerably over 2019, with continued growth predicted.