Banks
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◆ Soft bullets offer no benefit to Spanish issuers — BBVA ◆ Investors like certainty of hard bullets, says banker ◆ Lead managers use seven Spanish deals as comps -
◆ First deal to release IPTs on busy day ◆ MPS M&A bid had 'no impact' on deal, says lead ◆ Priced flat to fair value
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◆ German bank had the primary market to itself on Monday ◆ More covereds issued from Germany than any other country ◆ Banker said 7bp over offered small new issue premium
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◆Highest rated FIG bail-in paper in euros ◆ Prices level with Nordic peer ◆ Premium paid
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◆ Aussie bank has primary to itself on Friday ◆ Deal ‘sufficiently different,’ say bankers ◆ Both tranches offer small premiums
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More US banks have used callable format for opco dollar issuance this year
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Italian investment bank has retained its focus since its takeover by Banca Monte dei Paschi. Now with two suitors for MPS, it is set for more upheaval
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The new European Secured Note market is keen to secure regulatory recognition for the new product but there are advantages to not having it
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Bpifrance landed the world's first European Secured Note this week, which could pave the way for regulatory recognition of the product
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◆ UK bank's first European opco deal in more than five years ◆ Higher real rates spurred demand for short-dated assets ◆ Larger FRN clears with no premium
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Borrowers have been busy already this year so the pressure to issue is off
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◆ Follows RT1 from Crédit Agricole ◆ Still ample demand for insurance capital, rival banker says ◆ Cardif's third capital trade since November
