Atanas Dinov

SSA

Tool spade digging from Alamy 1Feb24 575x375

AfDB hybrid hands MDBs a new tool, but how will they use it?

Multilateral development banks embark on learning curve of ‘extremely useful and powerful’ instrument

Addison Gong, February 02, 2024

FIG

The famous theory of relativity shown on a chalkboard symbolizes education.

Relative value brings investor swarm to covered bonds

Participants anticipate a push to 15 year frontier in covered bonds as duration demand drives all of FIG

Sarah Ainsworth, February 01, 2024

Senior Debt

Office building of the LBBW, Landesbank Baden-Wurttemberg, Stuttgart, Baden-Wurttemberg, Germany

LBBW lifts €1.5bn with second helping of green FRN sales

◆ Deal works for all as issuer gains better standing with rating agencies ◆ Stream of FRNs helps with fair value assessment ◆ Green element lowers issuer’s borrowing costs

Atanas Dinov, February 01, 2024

Covered Bonds

Belfius proves seven year is another sweet spot for covereds

Trend for wider starting price thoughts comes into question

Sarah Ainsworth, February 01, 2024

Regulatory Capital

BBVA Bank on Passeig de Gracia street in Barcelona. Barcelona is a city in Spain. It is the capital and largest city of Catalonia, as well as the second most populous municipality of Spain. In 2009 the city was ranked Europe's third and one of the world's

BBVA first out of earnings blackouts with €1.25bn tier two

◆ Deal priced tight by a number of metrics ◆ Hefty oversubscription shows robust demand for FIG capital ◆ Trade clears flat to fair value compared with 10bp-15bp NIP for senior preferred at start of January

Atanas Dinov, January 31, 2024

Senior Debt

DekaBank plants rare and tight SP benchmark

◆ German issuer's new deal fits within the 20bp-25bp differential for SP and SNP bonds of tight European FIG names ◆ Tenor matches investors' and issuers' 'sweet spot' ◆ Majority sold in Germany where DekaBank enjoys strong name recognition

Atanas Dinov, January 30, 2024