No senior joy despite strong UBI, StanChart
The latest senior unsecured deals from UBI Banca and Standard Chartered were trading inside reoffer on Thursday, which bankers said was positive amid a volatile senior unsecured market. Primary issuance is likely to remain limited, however, due to earnings blackouts and a lack of potential stimuli to sentiment.
UBI Bancas 750m three year was trading as much as 10bp inside re-offer on Thursday. That was 17bp in from the widest level the bond had reached amid widening on Wednesday, according to a lead on the deal.
Standard Chartereds 1.25bn five year was around 3bp tight of re-offer,
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