Atanas Dinov

France, ile-de-France, Paris, credit mutuel

BFCM tier two achieves 'cracking result'

◆ Second helping of French tier two on the day but no indigestion ◆ Spreads entice buyers ◆ The effect of 40bp of spread tightening on order book

Atanas Dinov, January 08, 2025

Covered Bond Deal Reviews

Italy, Liguria, Genoa, Pastel colored houses in Boccadasse district

Crédit Agricole Italia sells longest euro covered bond since September

◆ Italian firm attracts €7bn peak book ◆ Deal lands up to 20bp through govvies ◆ However, high single digit premium still needed

Frank Jackman, January 08, 2025

FIG

Milan, Italy. 24th Dec, 2023. A group of joggers run past the offices of the BPER bank (Banca Popolare dell'Emilia Romagna) in Milan, Italy on 24 December 2023. Photo by Laurent Coust/ABACAPRESS.COM Credit: Abaca Press/Alamy Live News

BPER Banca gets ‘pretty staggering’ outcome as deal prices close to French bank

◆ Rival bankers impressed by spread ◆ Negative premium debated ◆ Spread lands just 10bp shy of BNPP’s similar offering

Sarah Ainsworth, January 08, 2025

Senior Debt

Words reset, restart and reopening on the light box. New life, new business, new deals concept

European banks reopen senior funding in style

◆ Almost €7bn sold ◆ Most borrowers print flat or close to fair value ◆ No blowouts but market judged healthy for further supply

Atanas Dinov, January 08, 2025

Regulatory Capital

Dublin, Ireland. 03rd Dec, 2018. The lettering of the Irish commercial bank AIB (Allied Irish Banks) can be seen next to the entrance to the bank's head office. Credit: Christian Charisius/dpa/Alamy Live News

AT1 market roars back to life

◆ Deals pricing close to fair value amid healthy demand for bank capital ◆ AIB resuscitates euro issuance with first deal in two months ◆ BBVA and StanChart go for larger dollar market

Atanas Dinov, January 07, 2025

Regulatory Capital

Exterior view of the headquarters of the French banking group BPCE, resulting from the merger of the Banque Populaire and the Caisse d'Epargne groups

BPCE and Generali restart European tier two FIG issuance

◆ BPCE flags new deal as potential sole euro Tier two of 2025 ◆ Immediately follows with 'attractive' multi-tranche Yankee ◆ Generali funds grandfathered capital buyback with new €500m green line

Atanas Dinov, January 07, 2025