Banks
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◆ Two sterling AT1s price within 3 days ◆ Strategy limits foreign currency losses ◆ BIL sells euro AT1 with no premium -
◆ Scarcity value helps insurer 'stand out from crowd' ◆ Maturity and credit 'a different animal' from parent ◆ Pricing versus parent company evaluated
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A wave of deals promises to redraw Italy’s banking landscape, pitching financial titans against politicians and offering advisers with a chance to burnish their credentials
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MDs and VPs leave as bank retrenches
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◆ Bond tightens 5bp from guidance ◆ Highest subscribed deal so far this week ◆ Relative value highlights issuer as 'strongest' Belgian region
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◆ Some premium paid to print at size ◆ Deal 'ticked the boxes' for issuer ◆ 'Froth leaving the market' say bankers
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◆ Canadian bank competes in busy session ◆ US dollar equivalence debated ◆ Fast money favours higher yield
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◆ New 10 year priced without tightening ◆ NIP squashed by swap spread moves ◆ ‘High quality book’ nevertheless
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◆ Sovereign sets new book and size records ◆ Deal a hit despite 'not straightforward' backdrop ◆ 'Different story' while still 'a confidence booster'
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◆ Muted reaction in Bund spreads opens door for German issuer ◆ Issuer opts for low beta, short-dated offering ◆ Investors 'cannot be too picky' warns banker
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◆ Deal is third Aussie trade in a week ◆ Aussie lender takes size ◆ Slim orderbook necessitates slim premium
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◆ New week starts with UK banks painting a 'good and rosy picture' for AT1 sales ◆ Lloyds offers the year's first sterling AT1 ◆ HSBC moves towards sub-7% mark in dollars
