Banks
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Spain’s Abanca sold the year’s first subordinated deal in euros on Thursday, when it issued a perpetual non-call 5.5 year additional tier one (AT1) bond to help optimise its capital structure. -
Non-preferred senior and holding company issuance was the focus for bank borrowers in euros this week, in what has been a slow start to the year by FIG market standards. With cheap central bank funding on offer, issuers have opted to start their funding programmes by filling their regulatory buckets.
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BMW set Europe's investment grade corporate bond market off to a flying start for the year on Monday, printing €1.5bn of debt at or inside fair value.
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HSBC’s aims to boost market share in investment banking and rebalance towards Asia remain intact despite the resignation of one of its most senior lieutenants. But 2021 must be about execution, writes David Rothnie.
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The Nordic Investment Bank became the latest public sector borrower to achieve a strong result in the sterling market this week with a £600m print.
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Europe’s corporate bond market was teeming with life again on Thursday after a brief pause for public holidays as German pharmaceutical company Bayer and UK energy company National Grid drummed up bulging order books in euros and sterling.
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Invesco has sold the last of its stake in IP Group, the investment company focused on the commercialisation of university-developed intellectual property, through an accelerated bookbuild on Wednesday night.
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The European Investment Bank received an order book close to two and half times bigger than its previous record in euros on Thursday as it printed its first benchmark in the currency of the year.
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A holding company-level deal from KBC Group on Thursday became the latest in a slew of senior non-preferred and holding company bank issuance in euros this week, in what has been a slow start to the year by FIG market standards.
