FIG pipeline bulges as new issuers target senior
Issuers in the financial institutions bond market do not want to see the chance for cheap funding slip, so more are lining up deals. On Monday, Landesbank Hessen-Thüringen (Helaba) mandated leads for a preferred senior bond in euros, and UK insurer Utmost International said it was aiming for an senior unsecured bond in sterling.
Helaba announced plans to sell a preferred senior bond on Monday and could be opening books as soon as Tuesday.
The German bank will be targeting a benchmark size in the euro market and a five year tenor.It has mandated Deutsche Bank, DZ Bank, Helaba,