Abu Dhabi: NBAD sets new FRN record

The National Bank of Abu Dhabi’s (NBAD) $850m floating rate note sold in December has set a new benchmark for the region’s issuers both in terms of size and spread.

China: PBOC moves into FX swaps

In an historic move in late November, the People’s Bank of China, the country’s central bank, conducted the first ever swap of renminbi with the US dollar, a move that it intends to repeat fortnightly.

Hold on tight for 2006

Nobody in their right mind would spend the week before Christmas trawling through the credit outlooks for 2006 published by investment banks, so Euromoney has done it for you.