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Investors saw plenty of juice in first public AT1 from Chile as regulatory framework draws praise
Mexican lender falls short of bond size target as late 2023 momentum fades
◆ 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
◆ IG investors comfort eat sweet spreads ◆ What can FIG issuers do now? ◆ US HEI securitizations: mainstream or flash in pan?
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Citigroup has increased the spending cap on its tender offer for four senior unsecured and subordinated notes by $5m in order to buy back all bonds tendered by investors.
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Co-operative Bank paper was under more selling pressure on Tuesday as Moody’s announced a raft of ratings downgrades on the UK lender, which revealed plans to tackle a £1.5bn capital shortfall on Monday. -
Slovenska izvozna in razvojna banka (SID Bank) has bought back €299m of its government guaranteed bonds it announced this week. The Slovenian bank increased the tender amount after receiving strong interest from investors.
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Royal Bank of Scotland has raised the cap on its capital buyback from $1bn to nearly $2.5bn, following a two-thirds participation on the two largest bonds being targeted.
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The Co-op Bank has suspended coupons on its subordinated debt as it looks to plug the £1.5bn capital hole it revealed on Monday. It expects to launch an exchange offer for sub bondholders in October, which could see them swapped into equity or a new Co-op Group senior unsecured bond.
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Paul Tucker, deputy governor of the Bank of England, has called for a “richer” regulatory capital accord that goes over and above Basel III, focusing on minimum levels of gone-concern capital to back up the broad regulatory push for bank resolution frameworks.
