How Leading Philippine Companies are Using Bonds to Their Advantage
Can I collect my judgment if the other side is appealing?
Bill on Bankruptcy: US Airways Need a Merger More than AMR
Bill on Bankruptcy: Why is Kodak's Stock Soaring?
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
Bill on Bankruptcy: Rakoff Reverses Himself in Madoff Case
Bill on Bankruptcy: MF Global Creditors Undeterred by Low Value
Bill on Bankruptcy: Will 2013 Be Kind To The Bankruptcy Bar?
Bill on Bankruptcy: Big Surprises For AMR, MF Global Creditors
“Builder” baskets, “grower” baskets and “scalable” baskets: as the leveraged loan and high yield bond markets and the US and European markets continue to converge, technical alerts and debt capital markets updates throw these...more
On 27 April 2015, the English High Court sanctioned a scheme of arrangement (the “Scheme”) for the US$200 million 9.5% senior notes due 2015 (the “2015 Notes”) issued by DTEK Finance B.V. (the “Issuer”), a Dutch finance...more
As the flood of capital into riskier deals continues to pour in at unprecedented rates, and economic and geopolitical risks evolve, the prospect of a surge of bond defaults in the years ahead is looming over high yield...more
High yield bond offerings have been a core component of the European leveraged finance segment since 2009. The value of European high yield bond issuances has increased dramatically, more than doubling from 2011 to 2014...more
The ECB announced on Thursday that it would start its purchase of sovereign bonds on March 9 to support an accelerating economic recovery in the Eurozone, and would continue to do so until there was a “sustained adjustment in...more
DLA Piper’s Financial Services International Regulatory team welcomes you to the twenty-fifth edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory developments in the...more
In This Issue:
- A new dawn: Record year for debt heralds new era
- On good terms: Convergence drives issuer-friendly markets
- State of play: Global debt markets positioned for growth
Investor enthusiasm in Europe for high-yield bonds reached a peak in July 2014, followed by a quiet August and September before the market returned, driven by M&A activity. Despite an inconsistent year, European high-yield...more
The ECB Governing Council will meet on 22 January and is expected to discuss implementing a quantitative easing (QE) policy which would result in national central banks buying Euro denominated government bonds from their own...more
New rules will facilitate privately held companies’ access to bond financing and reassure Spanish investors.
On June 28, 2014, Law 10/2014, on the organization, supervision and solvency of credit institutions (Law...more
On February 21, 2014, Italy enacted Law No. 9 (the “New Law”), which, among other things:
- reduces the tax cost of taking security in connection with notes offerings;
- expands the array of security that can...more
New tax ruling addresses controversial aspects of the Spanish tax regime applicable to qualifying bond offerings.
The Spanish Tax Authorities recently published Binding Tax Ruling V3670-13 (the Ruling), which...more
A crisis far beyond anything experienced in recent memory -
The way in which regulators, investors, banks and governments respond to the current sovereign debt challenges will echo for many years. Decisions made today...more
Lawyers and investment bankers involved in setting up structured products such as asset backed commercial paper, CDOs, CMBS and CLOs often strive to achieve “bankruptcy remoteness” for the vehicle issuing the product...more
The current state of Italian project finance is the result of a trend initiated more than 20 years ago, when public resources started to become scarce and the construction or infrastructure needed private funds to be carried...more
The UK’s bank regulatory and insolvency law structures were unprepared for the global financial crisis. As a result, the UK government’s response to intense bank stress in the immediate aftermath of the crunch led to a number...more
Opportunities for investors in European HY Debt
- Record amounts of HY issuance in Europe since 2010, much of which has refinanced the LBO bank debt maturity wall
- Potential for significant restructuring...more
The global reach of capital markets, financial difficulties in the eurozone and the multinational nature of many businesses and financial institutions have increased the importance of understanding legal, business and other...more
This year has proven to be an interesting one for the covered bond market, and we anticipate that 2013 will bring many important new developments. During 2012, the covered bond market continued to provide attractive financing...more
This insight will draw together four themes: the current state of UK Islamic banks; the possibility of a UK Sovereign Sukuk; UK real estate and its growing importance for Islamic Finance in the country; and the UK's battle to...more
Originally published in Butterworths Journal of International Banking and Financial Law - April 2012.
This article will draw together four themes: the current state of UK Islamic banks; the possibility of a UK...more
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