Higher yielding product finds favour in busy market for bank deals
A flurry of new deals this week had issuers having to compete for investors’ attention. Bankers said that higher yielding deals were much easier to sell, with non-preferred senior bonds from Bankia and Lloyds Banking Group proving more popular than a tighter print from Belfius.
Financial institutions have come out of earnings season ready to make use of favourable issuance conditions and work on their funding plans for next year.With the non-preferred senior asset class trading tighter in the secondary market this week, Belfius and Bankia did not want to miss out ...
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