Atanas Dinov

Senior Debt

UBS regains bond market foothold with $7.5bn Yankee duo

◆ Swiss bank chose the US market for its double first outing after its Credit Suisse takeover ◆ Investors flock to the latest senior bail-in bond ◆ Some see it as precursor to AT1 return

Atanas Dinov, September 20, 2023

Covered Bonds

Virgin Money gets ‘decent outcome’ out of sterling covered return

Issuer completes sterling funding at better levels than its recent euro outing

Atanas Dinov, September 19, 2023

Covered Bonds

A hand holding a magnifying glass against the backdrop of an apartment.

‘Attractive’ spreads ensure good demand for KHFC and S-Bank covered bonds

Each issuer offered much wider spread than core covered bonds and at least 10bp of premium to ensure successful execution

Atanas Dinov, September 19, 2023

Senior Debt

Great Britain's Andy Murray plays Spain's Tommy Robredo during the BNP Paribas Tennis Classic at The Hurlingham Club, London.

Appetite for duration: BNP Paribas pushes out in senior euros

◆ BNP Paribas sells longest senior euro note since July ◆ Slim 2bp-3bp concession needed ◆ Investors hungry for duration with accounts interest out to 30 years

Frank Jackman, September 19, 2023

Covered Bonds

Das Firmenschild der Zentrale der Hypo Real Estate Holding AG und der dbb (Deutsche Pfandbriefbank), aufgenommen am Sonntag (12.09.10) in Unterschleissheim bei Muenchen (Bayern). Die Muenchner Pleitebank Hypo Real Estate Group (HRE) benoetigt von der Bund

Pfandbriefbank’s struggle shows Pfandbriefe likely to widen

Deal priced in line with IPTs with no book updates

Atanas Dinov, September 18, 2023

Senior Debt

The UBS building on Broadgate in the central London

UBS fortifies bond comeback with second September Yankee

◆ UBS to sell new Yankee a fortnight after last ◆ Holdco deal goes a step lower in the capital structure ◆ Some see it as precursor to AT1 return

Atanas Dinov, September 18, 2023