Banks

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

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

◆ SocGen and especially UBS garner huge demand for high yielding AT1s ◆ Red-hot interest suggests more European banks could issue in subordinated Yankees ◆ HSBC and BBVA raise $2.75bn in tier two

A swift combination of the UK investment banking teams of UBS and Credit Suisse shows the rapid progress that has been made, as CEO Sergio Ermotti looks ahead to a ‘pivotal 2024’

Kiwi sub-sovereign sacrifices size to price tight

◆ 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

Borrower targets pocket of liquidity in two year FRNs

Leads’ orders helped issuer meet its size goal

Flavour and fragrance company capitalises on investor demand to take size at a tight price

SSA prints totalling $2.75bn speak volumes about strength of bid in dollars

Chemical group splits into speciality and essentials companies amid late year surge in event-driven activity

Bankers say it is hard to say why demand for the deals was subdued