Argenta and SMFG find contrasting demand in senior

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By David Freitas
15 Oct 2019

Argenta Spaarbank and Sumitomo Mitsui Financial Group were both marketing senior bonds on Tuesday, making use of the favourable backdrop in the primary market. While Sumitomo was quick to build demand for its bond, Argenta struggled to gather enough demand volume to move the spread from price thoughts.

Argenta Spaarbank was out with a no-grow €500m seven year senior non-preferred bond with an expected rating of BBB from S&P on Tuesday morning. So was Sumitomo Mitsui Financial Group (SMFG), which was targeting a 10 year senior unsecured euro bond, with expected ratings of A1/A.

The Belgian ...

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