Banks may be shut but Amazon delivers

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◆ Hyperscaler sets new standard for European corporate bond market

◆ What it will it take to get a bank to issue in euros again

◆ Iran war could reshape ultra-competitive Gulf capital markets

For bond issuers to keep away from the primary bond market after a shock, like the outbreak of the war with Iran, is not unusual. But it is when only one group is steering clear when every other is issuing.

For understandable reasons, there have been no bonds from the Middle East since the US and Israel began their attacks, of course. But there has been issuance from elsewhere in emerging markets. That only leaves banks issuing in euros as yet to register a deal in that time.

It's even more curious when they are issuing in dollars and printing covered bonds. We examine why they are holding back and discuss how they might return.

There was still plenty for investors to buy in Europe's credit markets, however. Not least was Amazon's multi-tranche blockbuster, its debut in euros. We uncover what the deal meant for investment grade corporate issuance in Europe.

Finally, we discussed the changing investment banking landscape in the Gulf and how the war raises fresh questions about how sustainable the ledning and bond business is in the region.

Click here to find out more about our GC Live event on corporate hybrid capital, taking palce in London on March 24.

Now read on...

Market debates FIG funding future in euros as primary drought extends

Amazon's €14.5bn money magnet redefines what is possible in credit

Iran war brings Gulf capital markets' competitiveness into question