Banks
-
-
◆ 'Cheeky' issuers reference low coupon Gilts ◆ RBC prints £300m senior deal off £375m final book ◆ Speculation 'less sophisticated investors' not aware of Gilt anomaly -
◆ Not covered but not uncommon ◆ Prices around 2bp through fixed rate curve ◆ More German state supply expected
-
German issuer's own comparable tenor deals disregarded in favour of more recent peer supply
-
UK bank kicks off 2025 funding with $8.5bn raised across the capital structure
-
Citi, HSBC, Morgan Stanley and RBC will pay fines, Deutsche gained immunity
-
◆ Compressed capital structure makes 11NC10 senior attractive ◆ Investors price-sensitive on longer tranche ◆ High cash balances pour into FRN
-
◆ 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
-
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
-
MDs and VPs leave as bank retrenches
-
◆ Bond tightens 5bp from guidance ◆ Highest subscribed deal so far this week ◆ Relative value highlights issuer as 'strongest' Belgian region
