Atanas Dinov

A keen plane spotter at the stands under the model of Concorde at Heathrow, London terminal awaiting the arrival of the final Concorde flight arriving at Heathrow airport, from New York, marking the end of an era of supersonic travel. * The big bird, pack

Transatlantic securitization: taking off or final flight?

◆ US RMBS sales in Europe: immigration or vacation? ◆ UBS AT1 makes nonsense of claims of investor fears ◆ The EU's last hurrah in the SSA market

Ralph Sinclair, November 10, 2023

FIG

Open season on AT1s as pair set up bank capital bonanza

Investors pounce on Société Générale and UBS sales after yields rise, then rates rally to soothe fears

Atanas Dinov, November 09, 2023

Regulatory Capital

Societe Generale Bank flag on building in London UK. Image shot 2012. Exact date unknown.

SG 'could have gone tighter' with hit $1.25bn AT1 reopener

◆ First AT1 for nearly two months after volatility ◆ Priced flat to or inside fair value ◆ Head of funding says deal could have been bigger

Atanas Dinov, November 09, 2023

Regulatory Capital

The New York headquarters of the French bank, Societe Generale is seen on Thursday, November 3, 2016. Societe Generale SA reported third-quarter profits that beat analysts' expectations. Societe Generale is France's third largest bank measured by assets.

Sogecap revisits bond market with €800m tier two

◆ Deal is French insurer's first bond since 2014 ◆ Strong demand for higher yielding assets results in pricing close to fair value ◆ Book reaches around €3bn

Atanas Dinov, November 09, 2023

Regulatory Capital

Logos of Credit Suisse and UBS Bank on a heap on a table. Concept for a possible merger or take over. Copy space. Web banner format.

UBS resurrects Swiss AT1 with dual tranche deal that shows size ambition

◆ Deal marketed at a price to sell ◆ Structure suggests UBS is optimising funding volume ◆ Reluctance to buy Swiss AT1s remains but fixed income markets are recovering

Atanas Dinov, November 08, 2023

GC View

Company headquarters of Switzerland's two largest banks UBS (background) and Credit Suisse at Zurich, Switzerland, Paradeplatz.

The AT1 is dead, long live the AT1

Higher rates are powering an equilibrium in the AT1 market that may tempt even the most unlikely of issuers to come to the market

Atanas Dinov, November 08, 2023