Huge Q1 volumes help banks in wait for ‘palatable’ debt costs
European banks broke a five year record for funding volumes in the first quarter, despite steering clear of markets for most of March. Their blistering start to the year will help them to sit out a while longer, as they wait for funding costs to settle during the coronavirus pandemic.
European banks, including UK-based financial institutions, raised just €4.5bn of funding in March — a decades-low tally, according to Dealogic.
But supply from the sector still reached a surprising €54bn in the first quarter, giving the sector its strongest start to a year since 2015.The bulk of ...
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