Banks enjoy last hurrah ahead of difficult winter
Deal arrangers expect bank bond supply will peter out after a flurry of deals this week. Issuers have been enjoying fantastic conditions, but most of them have finished their funding plans early so they can lay low throughout a much-feared fourth quarter. Tyler Davies and Bill Thornhill report.
Ten banks had printed nearly $8bn-equivalent of debt in dollars and euros by Friday morning, adding to the $9.1bn of supply that arrived in the market last week.
The flurry of issuance may be the last burst from financial institutions before the start of 2021.European ...