FIG kicks into gear, but obstacles to issuance remain

By Nathan Collins
24 Sep 2014

A previously sleepy FIG market awoke with a start on Wednesday morning, with ASR Nederland, Credit Suisse and Westpac New Zealand all mandating for new issues. While a burst of supply on Wednesday is an encouraging sign, syndicate bankers have cautioned against expecting a sustained rush of supply, with the upcoming asset quality review and releases of third quarter results likely to constrain further issuance.

ASR Nederland and Credit Suisse are both looking at the euro market, with the Dutch insurer aiming to print a perpetual non-call 10 sub deal and the Swiss bank announcing a long seven year senior print.

Westpac New Zealand opted for sterling and is set to sell a ...

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