FIG issuers hit pause as secondaries begin to widen

By David Freitas
03 Oct 2019

The financial institutions bond market has absorbed an enormous volume of supply over the past month, putting a strain on trading levels for outstanding securities. FIG bankers nonetheless expect that spreads could start to tighten once more in the coming weeks, amid a calmer flow of new issuance.

The primary market was quiet on Thursday, with a public holiday in Germany giving issuers the perfect excuse to take a breather.

But financial institutions including Allied Irish Banks, Banco SantanderCiti, Hannover Re,Swedbank and UniCredit have raised senior and subordinated debt worth €5.5bn this week, backed ...

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