Banks
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Banks are taking another look at funding conditions in the euro market after a strong week of recovery for senior debt spreads. -
A pair of Austrian banks kept a quiet senior euro market ticking over earlier this week. Erste targeted price over size with a new senior deal, while Oberbank attracted a granular orderbook on its first visit to the non-preferred market.
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Swiss franc bond investors are pursuing high quality issues, with Münchener Hypothekenbank harnessing this demand to price a tap of its green preferred senior bond 12bp through fair value this week.
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A trio of European corporate issuers brought bond deals on Thursday, shrugging off the potential distraction of a European Central Bank meeting.
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France stole the limelight in the euro public sector bond market this week as it set new records for 50 year benchmarks in terms of size, demand and yield. But next week all eyes will be firmly fixed on the EU, which is set to bring its first bond of the year under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.
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Natixis has hired Mark Soriano, formerly at Barclays, for its capital structure and rating advisory team.
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The European Bank for Reconstruction and Development led the way on a busy Thursday in the SSA dollar market, printing $2bn flat to its curve.
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The State of North Rhine-Westphalia found plenty of demand as it came to the market with a new 30 year benchmark on Thursday, ahead of the European Central Bank’s first monetary policy meeting of the year.
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Groupe Bruxelles Lambert, the Belgian investment holding company, found a warm response from the bond market on Thursday, despite the potential distractions of a European Central Bank meeting being held on the same day.
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Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.
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Utilities Acea and United Utilities Water romped home with ESG-themed bonds in euros and sterling on Thursday. Bankers said investor demand for socially conscious assets was swelling.
