Banks

Shrinking books 'nothing to complain about' as market values quality not quantity

The launch of a €35bn exchange offer for Germany’s Commerzbank marks a decisive attempt to break a stalemate that has frustrated Andrea Orcel in his quest to turn UniCredit into a pan-European banking champion

Many factors could affect the relative value of covered bonds and SSAs this year

FIG issuers pile into front to mid-end floaters in private placements across currencies

Lucy Devlin among wave of senior departures

◆ Second European bank to bring a dollar AT1 this week as investors bid for risky assets ◆ Market conditions deteriorate during Wednesday ◆ More than half of book lost

Euro issuance stalls again

Public sector banker departs after 12 years at the firm

◆ Issuance plans were disrupted by war in the Middle East ◆ Spread tightened by 4bp ◆ NIBC is going to be acquired by ABN Amro

Short senior FRNs emerge as Nordic banks go local

◆ First capital trade by an international bank since Iran war began ◆ Fair value debated, some spot visible concession ◆ $2.5bn size across two tranches supported by $17bn book

◆ Issuer's first in almost a year ◆ Issuer opts for no-grow deal ◆ Investors show greater price despite stronger market on Monday