Tight window no problem in senior as banks offer premiums

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By Nathan Collins
29 May 2014

Financials shrugged off a short week to print €4.5bn of senior euro debt in just two days, as issuers looked to hit the market ahead of next week’s ECB meeting. The promise of more attractive new issue premiums than in recent weeks helped to buoy the trades, with issuers showing growing willingness to pay up slightly to grab investors’ attention.

“New issue premiums have ticked up a little bit,” said a head of FIG syndicate. “A few deals over the last few weeks have underperformed slightly in secondaries, so investors need something to persuade them to buy."

Credit Suisse was quick to offer up the premium demanded by ...

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