US regional banks are not only defending market share in investment banking as their larger Wall Street rivals go on the prowl, they are gaining share, using their strong balance sheets and beefing up staff.

The effort to open up debt and equity capital markets to finance the growth of defence and security companies would be helped by more transparency about their operations and the wider adoption of voluntary bond frameworks to showcase the industry's benefits, according to those working to help defence companies raise money for investment.

SoftBank Group sold some of its most profitable investments and took on billions of dollars of debt so that it could triple its bet on OpenAI at the end of last year, in an indication of how Masayoshi Son is increasingly tying his company’s fortunes to the success or failure of the AI outfit.

Three years after TD Bank bought US boutique investment bank Cowen, the Canadian lender is leaning into hiring and setting its sights on taking a bigger share of the global investment banking pie.   

Banco Santander had the euro covered bond stage to itself on Monday as it executed a €2.5bn cedulas hipotecarias transaction split across €1.5bn five-year and €1bn 10-year tranches which were more than twice subscribed

Two smaller issuers are providing the week's initial core SSA supply as bigger names wait for Lunar New Year celebrations to pass before mandating.

The UK will meet institutional investors this week ahead of issuing its first green Gilt with potential nuclear use of proceeds. The Debt Management Office, which followed the leads of G7 peers Canada, France and Japan in November by making nuclear an eligible area of expenditure under its updated “government green financing framework” , has invited institutions to one-on-one meetings with officials on Wednesday and Thursday.

Unrated Ubisoft Entertainment has seen its bonds move dramatically over the first few weeks of the year as the company looks to restructure its business after a profit warning.

London-based Fasanara Capital is joining Park Square and Golub Capital in the latest wave of managers pressing ahead with the development of European CLO platforms.

A raft of new private credit CLOs in Europe will come as a relief for a market that has lacked enough issuance of new broadly syndicated leveraged loan deals to fuel the CLO machine. There are potentially eight private credit CLOs making their way into the market, sources say, reflecting the boom in private credit loans and increasing investor comfort with a sector that could offer higher spreads versus CLOs backed by broadly syndicated loans. 

Securitisations backed by buy now, pay later receivables could emerge in Europe for the first time as surging e-commerce volumes expand lending to higher-risk borrowers and regulatory tightening boosts investor confidence, according to a Moody's report.

Two leading Asian borrowers are poised to take biodiversity financing to a new level as China and the Philippines prepare the first sovereign bonds that will dedicate proceeds to addressing biodiversity loss and protecting natural ecosystems.

Tokyo and London are collaborating on transition finance as the two global financial centres join forces to develop the fledgling transition bond market.

South Africa's FirstRand Group's transition finance framework offers a blueprint for structuring the next round of transition deals for issuers in emerging and developing markets. 

The International Capital Market Association is concerned that Europe's proposed Sustainable Finance Disclosure Regulation 2.0 could have the unintended consequence of stifling the sustainable fund market. 

The IPO of Kuwaiti supermarket operator Trolley reached a final deal size of KD59.5m (US$194m) after upsizing following strong demand.

Indian payments company Razorpay has hired Axis Capital, Citigroup, JP Morgan and Kotak to work on an up to US$500m IPO planned for later this year, people with knowledge of the transaction said.

Hong Kong-listed luggage maker Samsonite Group is planning a dual listing in the US to access global investors and improve liquidity. 

Some Chinese issuers are expected to drop their Hong Kong listing plans and raise funds domestically instead after China relaxed follow-on rules for good quality or high-technology companies.

A trio of high-profile buyouts has enlivened the European leveraged finance market, providing much needed new money supply, although bankers remain sceptical over a meaningful resurgence in M&A as the pipeline remains frustratingly light.

Electronic Arts is leaning more heavily on banks to fund its record-breaking US$20bn buyout financing, seeking at least US$1.5bn in additional term loan A commitments amid strong appetite for the tranche, which could lead to a reduced term loan B portion.

SoftBank Group is in talks with relationship banks for a financing of around US$10bn or larger to fund its new investment in ChatGPT developer OpenAI. 

The AI boom has been backed by investor enthusiasm – and their money – on an unprecedented scale. Investment bankers have high hopes of a huge year for deals. But just like the broader economy, will this be a K-shaped market for tech deals?

How stable is a stablecoin? That is a question that S&P attempts to answer via its Global Ratings’ Stablecoin Stability Assessment, a product designed to quantify a stablecoin’s ability to maintain its peg to a fiat currency. It produces a score from 1, very strong, to 5, weak.

A quick glance at investment bank share prices over the past year tells a story: business is booming and the outlook is rosy. The question now, in the middle of reporting and bonus season, is how much of the profits will bank bosses have to give away to their staff.

Strong black coffee – check. Two painkillers – check. A cigarette – check. Breakfast … done.