The next bonus season could be epic for bankers and traders as revenue from investment banking and stock and bond trading remains elevated. While trading revenue has been stratospheric this year, benefiting from tariff-driven volatility, dealmaking is set to be above or near record levels and equity underwriting has rebounded as well. 

Australia's securities regulator has made a number of recommendations to strengthen capital markets, including measures to make it easier for companies to list shares in the country. 

Restructuring specialist Dorian Lowell has rejoined Houlihan Lokey as a senior adviser having been a director in the firm’s financial restructuring group between 2001 and 2006 before moving to fund manager First East Partners.

US investment bank Houlihan Lokey has hired Marco Voci from JP Morgan as a managing director in its consumer group in London, focusing on the active lifestyle, branded consumer products and luxury goods sectors in Europe, the Middle East and Africa.

Rare issuers NATS and Tritax piqued investors’ interest on Wednesday while returning to the sterling market with tightly priced senior unsecured transactions. 

Financial institutions' issuance all but ground to a halt on Wednesday, in stark contrast to the frenetic pace of corporate supply, as a softening market backdrop convinced opportunistic issuers to wait for a better day. 

German car parts supplier Schaeffler printed a €750m 6.5-year senior unsecured note on Wednesday at a new issue concession of around 12.5bp, a good result given the crowded nature of the corporate bond market and a softer backdrop for the auto sector, said bankers. 

Investitionsbank Berlin managed to get its new €500m social bond covered but it was a struggle, with the deal at one point looking like it would need demand from the lead managers to get over the line.

US subprime auto ABS supply resumes this week following a one-week pause as the sector continues to recover from the spread widening triggered by Tricolor's bankruptcy in September.

Digital financial services company Zip issued its 11th buy now, pay later consumer loans ABS on Thursday, the upsized A$400m (US$264m) Zip Master Trust Series 2025-2, which confirmed the rehabilitation of a previously beleaguered sector.

Pepper Money priced its latest RMBS from the Polaris shelf at the tight end of guidance, defying a softer tone in the sterling securitisation market as secondary spreads appear to widen on the back of heavy supply and volatility, according to market participants.

The US credit card ABS sector showed that it was open to long duration as seen by the demand exhibited for Capital One's placement of a rare 10-year deal.

Overcoming its longstanding opposition to a separate transition bond label, the International Capital Market Association is falling into line with its loan market peers’ new transition loan guidance by endorsing “climate transition bonds”.

Even after nearly €3.5bn of auctions in the past month, the European Union’s green bond issuance has plunged this year to its lowest level since the bloc began offering the instrument in 2021.

Market rumours that France is set to become the first G7 sovereign to issue sustainability-linked bonds have been dismissed by the country’s debt management office.

India's National Stock Exchange is preparing to launch green equity criteria that will be the first globally to offer a third colour category of "orange" for transition companies.

Japanese conglomerate Hitachi has raised ¥68.5bn (US$448m) from a share sale in Hitachi Construction Machinery.

The 298.5m-share anchor tranche of online broker Groww's up to Rs66bn (US$751m) IPO has drawn 102 investors, including several global sovereign wealth funds. 

Nasdaq-listed WeRide is planning to price its Hong Kong listing at HK$27.10 each to raise HK$2.4bn (US$308.7m), said people with knowledge of the matter.

The Indian government is likely to defer a 2.5%–3% stake sale in state-owned Life Insurance Corporation of India, to next year given a weak share price and muted feedback from investors, people with knowledge of the transaction said. 

Creditors to Accentro are taking over the company via a debt-for-equity swap as the German real estate firm expects to haircut its bonds by 67% to 68% as early as the end of the week, sources said. 

Banks are casting a wide net for a multi-currency financing to back the record-breaking US$55bn buyout of video game maker Electronic Arts, which is set to include one of the largest LBO term loans in the last five years.

US healthcare company Sevita was forced to pull a US$2.507bn first-lien term loan from syndication after investors expressed concerns over reimbursement risks following Medicaid cuts, sources said.

A schism has opened up in the European leveraged loan market as investors herd into the most loved and followed credits and demand steep discounts from the trickier propositions.