◆ ING goes double with €2.5bn deal at belly and long ends of the curve a day after $1.25bn AT1 ◆ BNPP follows with similar strategy with €1.5bn SNP ◆ Both long end tranches land at FV
◆ Swedish lender prints $650m Reg S deal well inside fair value estimates ◆ Jyske prices largest ever AT1 deal ◆ Lower volume of Nordic capital supply and benign market conditions act as tailwinds
◆ Danish bank prints its first capital deal in a major currency since 2021 ◆ IR 'hard work' pays off following money laundering case ◆ Premium paid for performance
◆ Higher rates and dollar push-back no hindrance to bank capital deals ◆ ING prints oversubscribed $1.25bn Reg S AT1 ◆ Danske's first tier two since 2021 pricing close to fair value
◆ CaixaBank goes big with €1.25bn 8NC7 green ◆ Tightest of all deals from La Banque Postale loses most orders but ends with a 1.73 subscription ratio ◆ Alpha Bank crunches price by 37.5bp
Retail distribution is unpopular with FIG and corporate bond issuers, but some SSAs do it. With rates now attractive to investors, the case for it has strengthened
