SEB, UniCredit brave ‘heavy going’ senior market

10 Feb 2011

SEB and UniCredit are braving difficult market conditions on Thursday to bring new senior deals to the market. The two issuers hope to raise benchmark size issues and although expectations are that they will get the transactions done, FIG syndicate bankers are still concerned about the general conditions in the senior FIG market.

“The senior market has been dysfunctional since September last year and although there was a brief window in November, it has been quite some time since we have seen things working normally and properly,” said a head of FIG syndicate.

“The covered bond market has taken up some ...

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