BBVA
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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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Global markets are looking more settled and, in spite of little supply this week, bankers suggest that a FIG market reopening trade is imminent.
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Santander and BBVA both looked to the dollar market to secure senior funding on Tuesday amid a bare session for European FIG issuance. -
Covered bond issuers failed to take heed of poor market conditions and, just like lemmings, followed one another with poorly performing deals this week.
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Kuxtabank this week issued the first Spanish covered bond backed by loans with an environmental, social and governance remit, and the first peripheral 10 year since March.
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Chris Hewitt, formerly head of global syndicate at Sberbank CIB, has resurfaced at BBVA as a corporate syndicate manager.
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A resurgent Spanish corporate finance market is putting the expansion plans of Spain’s national champions to the test, at home and abroad, writes David Rothnie.
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Mexican building materials company Cemex, has signed $3.79bn of loans including a €620m tranche after an upgrade to BB- from Fitch.
