Game over for smaller FIG issuers this year

By David Freitas
17 Oct 2019

Argenta Spaarbank’s trade this week was a warning to smaller banks about the importance of good pricing and roadshows in selling bonds. But even for those issuers willing to heed those lessons, it may already be too late to issue debt, writes David Freitas.

The financial institutions bond market has seen a rise in smaller borrowers seeking funding across the capital structure in recent months.

The favourable backdrop has incentivised issuers to seek further funding — sometimes more than they need — and the flurry of trades has tempted new issuers to ...

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