Banks

The Spanish bank is beefing up its investment bank in Europe and the US

Supra sells the longest SSA bond in the currency in recent weeks

Pricing is expected around September 7

The issuer has kept sterling investors busy with 12 deals this year

◆ Second opco Kangaroo deal more than twice covered ◆ UK firm includes floating rate tranche for the first time ◆ Recent deals show the depth of the Aussie dollar

‘Things didn’t add up’ for a tap until this week

A new dollar green bond in the autumn is on the cards to help the issuer meet €10bn target

◆ Lloyds prices first foreign subordinated debt in Singapore dollars since CS’s collapse ◆ Deal offers arbitrage versus G3 markets ◆ NatWest starts marketing senior Kangaroo

Asian investors bought more than 40% of the deal following a recent roadshow

◆ No foreign bank has issued subordinated debt in the currency since CS collapse ◆ Local heavyweight showed there is demand for AT1 ◆ Will be issuer's fourth currency outing since Q2 results

Both supply and demand are on the rise to support more long-dated paper

◆ Second Swedish sub in a row to be priced with a spread below 200bp ◆ Market is strong but investors are price sensitive ◆ SEB pays higher NIP than Handelsbanken did