Barclays
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Dollar pre-funding is unlikely to be a feature of the fourth quarter this year as crushed swap spreads and a lack of direction from the US Federal Reserve force out SSA borrowers.
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Senior SSA bankers are fretting that situations such as this week's clash between two Dutch agencies, which drove one of the pair to pull its deal, could become unavoidable, writes Craig McGlashan. -
Lithuania landed its longest, largest and lowest yielding deal ever in one fell swoop this week. But with the eurozone sovereign’s order book dominated by rates buyers rather than emerging market accounts, the deal has implications for Spain just as much as Slovenia.
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European and US banks paid up this week as they unleashed a torrent of dollar supply amid improving market conditions.
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A Dutch brewing company has made a rare appearance in the private medium term note market with a 10 year note, joined by a trio of its continental peers that went even further down the maturity curve.
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Covered bonds issued this week by Nordea Finland and DNB Boligkreditt went surprisingly well as, despite being the largest ones on offer, they were the most highly oversubscribed and subsequently posted the best performance.
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Barclays already has a clear strategy for its investment bank and now it could be about to appoint the CEO to deliver it. But bigger questions lie ahead for all of Europe’s banks to remain competitive, writes David Rothnie.
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Plans to ring-fence major UK banks’ retail activities away from their investment banking activities could increase funding costs for the banks that fall under the Prudential Regulatory Authority’s proposed regime.
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Lithuania has loosed 10 and 20 year euro tranches on the market, demonstrating confidence in duration as the prospects of an imminent US rate hike fade away yet again.
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Oesterreichische Kontrollbank navigated a tricky dollar market to raise $1bn on Wednesday, as dwindling swap spreads returned to haunt public sector borrowers.
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Equiniti Group announced on Wednesday the price range of its initial public offering on London’s main market, which would give it a market capitalisation of £495m to £600m.
