We are pleased to present the Conyers Norway Bulletin for 2025. This edition highlights key developments impacting Bermuda-incorporated companies in the Norwegian market over the past year. The Euronext Oslo Børs...more
The UK Financial Conduct Authority (FCA) has published a tender notice and related tender documents for the appointment of a bond consolidated tape provider (CTP). The tender documents explain the award process and how to...more
While issuance of high yield bonds strengthened across all key global jurisdictions in 2024, the US and Europe still face mounting maturity walls - High yield bond issuance in key markets around the world recorded major...more
Latin American economies are uniquely positioned due to their geographical proximity to the United States, extensive economic integration, significant immigration patterns and potential for growth. The U.S. serves as the...more
High yield bond issuance in the US and Europe has made strong gains as issuers return to the market to refinance at more attractive rates - High yield bond markets in the US and Europe made strong gains through the first...more
The sale of Reverse Yankee bonds by prominent US issuers – often with higher credit ratings – has recently continued at a rapid pace. Reverse Yankee bonds are debt securities issued by US issuers that are denominated in a...more
The bond yield curve inverted in October 2022. When that occurred, it started a countdown to recession. At least it has every time since 1968. Specifically, for the last eight recessions since 1968, every single recession was...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AGs Don’t Like NCAA’s Name-Image-Likeness Restrictions- ...more
Texas AG Ken Paxton announced that, “until further notice,” Barclays is no longer permitted to purchase or underwrite public securities, or otherwise be a party to a covered contract relating to the public security, after...more
Whole-business securitization (WBS), a structured finance product where a company issues secured debt against substantially all of its cash-yielding assets, is now on the radar of dealmakers seeking ways to manage M&A...more
Representing clients going through divorce is itself a challenging task because what clients want from that process is often quite varied. Clients from the world of venture capital or real estate are often willing to forego...more
Stock Market Commentary - The S&P 500 Index fell 3.30% during the third quarter of 2023, with growth stocks losing slightly less than value stocks. Interest rate–sensitive stocks in the utilities and real estate sectors...more
As odd as it may seem and as odd as it is to say, what the municipal market, medium-sized banks, and the real estate market need is a good old fashioned (but not too severe) recession. On July 26, the Federal Reserve Board...more
General market unease in the first fiscal quarter of 2023 was evident. The back-to-back collapse of two regional banks spooked investors and the effects of two federal rate increases rippled through the market. Uncertainty in...more
Bond markets have been in upheaval recently, with knock-on impacts on decisions on whether to make or defend calls on performance security on construction projects. In the first quarter of this year, we saw the continued...more
Heading into 2023, European leveraged finance markets continue to deal with fierce headwinds, following 12 months of economic and geopolitical volatility that has prompted a general slowdown in issuance. What does this mean...more
US leveraged loan and high yield bond markets saw significant declines in issuance in 2022, as macroeconomic and geopolitical uncertainty drove up borrowing costs, dampened risk appetite and significantly reduced M&A...more
The Financial Conduct Authority (“FCA”) has banned and fined three bond traders for placing large-sized orders for future contracts in relation to Italian government bonds that they did not intend to execute, while...more
Sustainability-linked bonds (SLBs) are increasingly used as a corporate financing instrument. Through their terms, they incentivise companies to act in a more sustainable way; if the issuer fails to meet certain pre-defined...more
Stock Market Commentary - Stocks struggled during the first half of 2022 as shifts in monetary policy, the war in Ukraine, an energy shock, and a worsening growth outlook in China unsettled markets. As of June 30th, the...more
As Environmental, Social and Governance (“ESG”) trends continue to evolve, the industry continues to publish best practices and guidance to aid in the development of this rapidly growing market. Most recently, the Loan...more
The White House unveiled its 2023 budget to start the week, a document that outlines the Administration’s economic agenda for the year ahead. Among other proposals, the budget proposes “a new tax on American households worth...more
After weathering pandemic-related disruption early in 2021, Latin American loan and bond markets remained open for business, with bonds leading the way - Ongoing COVID-19 disruption in 2021 saw a decline in Latin American...more
Volkswagen and company shareholders are “in advance talks that could lead to the initial public offering of the iconic Porsche AG sports-car maker.” Spinning off Porsche via IPO would help give VW the “fresh cash” in needs to...more
In June, FINRA reminded broker-dealers of their best execution obligations which are derived from common law agency principles and fiduciary obligations. The best execution obligation is incorporated in applicable MSRB rules...more