Atanas Dinov

Senior Debt

Barclays blue sign on a bank window in Newcastle.

Barclays' Japan return shows deep yen market for foreign credits

◆ Simultaneous execution with Alphabet's record deal bodes well for others ◆ More FIG names likely to print in near future ◆ Other European banks diversify funding in Singaporean and Australian dollars

Atanas Dinov, May 15, 2026

FIG

Hunter groups call contest at Marktplatz in Rothenburg Bavaria Germany. Image shot 2007. Exact date unknown.

Big yield hunters chase FIG capital at new entry points

Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates

Atanas Dinov, May 14, 2026

Senior Debt

Nyhavn, central Copenhagen, Denmark, Scandinavia, October 2021

Burst of Nordic FIG senior issuance compensates for this year's lower euro volume

Deals price tightly to Western European peers, with high-spread Icelandic banks performing the most

Atanas Dinov, May 13, 2026

Regulatory Capital

Attractive cost of capital to lure bank issuers as HSBC returns with second AT1 sale since March

◆ HSBC markets new dollar AT1 less than two months after raising $2.5bn ◆ Belfius Bank seen as candidate for further AT1 issuance ◆ Belgian lender is touring Europe to presents its 2026-2030 plan

Atanas Dinov, May 11, 2026

Regulatory Capital

Brussels Old Town, Brussels Capital Region / Belgium - 12 20 2019: Modern rectangular facade of the ING bank and Insurance company

ING goes green with 12nc7 tier two

◆ ING brings its first euro capital trade of 2026 ◆ Fair value debated ◆ ING's and Intesa's tier two deals were "not a competition"

Flynn Nicholls, May 11, 2026

Regulatory Capital

Milan, Italy - 07 01 2025 : Intesa Sanpaolo bank facade

Intesa Sanpaolo Assicurazioni finds demand for rare insurance tier two

◆ No attrition on insurance arm's €500m no-grow 2036 deal ◆ Ample demand from buy-and-hold accounts ◆ 'So much cash available' despite US-Iran peace deal failure

Flynn Nicholls, May 11, 2026