Simon surtees ing barings

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It is over one year after the Turkish currency reform and the international bond market has been through some significant changes. Scope for a buyback? Although it is the Triple A names that continue to dominate, some issuance has been seen further down the credit spectrum. As a rule of thumb, Turkey kicks off the year with a longer-dated US dollar deal before alternating between euro and dollar issues. As the market develops, we will see further demand for lower rated credits, and we have seen this occur to some extent already in the Turkish lira market with transactions for Double A rated issuers such as NRW State" said RBC's Sorensen. In the capital markets, Turkish ECM activity saw some successes inwith government sales particularly prominent. Although we are not expecting to see levels that were apparent one year ago, volumes are improving and supported by redemption flows. Often such a situation is very favourable, with a reduction in inflation and strong growth.

  • UPDATE 1MOVESEvolution Securities, ING Real Estate Reuters
  • Corporate Hybrid Capital Roundtable Participants All Special Reports PFIe
  • Corporate Hybrid Capital Roundtable Participants IFR

  • View Simon Surtees' profile on LinkedIn, the world's largest professional community. Simon has 10 jobs listed on their profile. See the complete ING Barings. UK - Simon Surtees and Alok Basu are to join Gartmore's Credit for NatWest Markets, ING Barings, HSBC Investment Bank and BNP.

    UPDATE 1MOVESEvolution Securities, ING Real Estate Reuters

    Simon Surtees is senior investment manager and head of credit research at Gartmore for ratings advisory and primary and secondary research at ING Barings.
    But the big story in looks likely to be one of structured instruments — such as securitisation or covered bonds — finding a ready audience among Turkey's expanding domestic funds.

    Ok to continue. Turkey is now in its fourth year of one-party, majority government and strong GDP growth. The biggest development over the past year was the opening last October of negotiations towards eventual EU entry.

    But in TSKB's case: "Given that most of our receivables are on shore, an on-balance sheet secured loan or a covered bond look more likely solutions than a securitisation," said Yarcan. Some Another political kite being flown by some commentators is the question of whether Prime Minister Recip Tayyip Erdogan could choose to become the country's president when the present incumbent's term ends in April

    images simon surtees ing barings
    Simon surtees ing barings
    Foreign investors are keen to extend duration, and were the main buyers of the first five-year Turkish lira government bond issue in February There is also speculation that some of the bigger banks could also see at least partial sales.

    Again this was not such a bad result, as by the time the company returned to the market it was a much more attractive prospect.

    The potential is certainly there. Thirdly, the market could see the first lira denominated ABS issuance.

    2, Deutsche Bank - Anja King, Simon Adamson & Team,%.

    images simon surtees ing barings

    3, Merrill 15= ING Barings - Colin Marshall & Team, 5, %. 15= SocGen 14, Bear Stearns - Simon Surtees, Phil Crate, 43, %.

    Corporate Hybrid Capital Roundtable Participants All Special Reports PFIe

    15, SocGen. Simon Surtees joined Gartmore in September from Bear Stearns Simon worked as a senior credit analyst for HSBC Markets and formerly ING Barings. Simon Surtees is senior investment manager and head of credit for ratings advisory and primary and secondary research at ING Barings.
    Jenkins, James-Scott Wong 31 2.

    images simon surtees ing barings

    Spread convergence accelerated through and earlyand despite the now traditional March correction, investors continued the strategy of swiftly buying into emerging market sell-offs. Instead, in a falling price environment the banks have opted to put in place one-year deals that could be rolled over at a cheaper price — and usually a larger quantum — on maturity.

    Home Bonds. Simon Surtees - Gartmore Simon Surtees is senior investment manager and head of credit research at Gartmore, where he joined in Septemberfrom Bear Stearns where he was managing director for European fixed-income credit research.

    Video: Simon surtees ing barings Barclays Mobile Banking: Five Sceptics, 5 Days, Simon's story

    There is no need for parliamentary elections until November elections are held every five yearsalthough some analysts have raised the question of whether the government may opt for early elections to lock in another five years in power, taking it to Special Reports.

    images simon surtees ing barings
    Simon surtees ing barings
    With Turkish borrowers still offering good relative value, pricing is likely to contract further, feeding lenders' appetite for higher yielding corporate supply.

    Memduh Aslan Akcay, the Treasury's director general of foreign economic relations, stresses that the imposition of the withholding tax has served to unify the Turkish tax system and investor treatment regardless of an investor's origins.

    But what originators are expecting from will revolutionise the world of Turkish ABS.

    Corporate Hybrid Capital Roundtable Participants IFR

    But there is also a strong institutional bid that has allowed a number of issues at the longer part of the curve, as far down the maturity spectrum as 10 years. This listing had originally been planned for the previous autumn, but a sell-off on the market caused postponement at an early stage. Several investment banks have discussed exchange possibilities with Turkey after parliamentary approval was secured in March allowing the Treasury to undertake Eurobond swaps.

    Video: Simon surtees ing barings UK: BARINGS BANK: NEW OWNERS ING GROUP PRESS CONFERENCE

    The bank market has stretched tenors out to three years, while in the corporate market the country's privatisation programme yielded a series of jumbo loans.

    2 Replies to “Simon surtees ing barings”

    1. But against competition from the loan market and new structured products, the prospects for non-sovereign Eurobond issuance remain slight.