Commerzbank

McDonald’s offered a Sfr400m ($413.6m) eight year trade to the Swiss market on Monday, closing the deal with an order book exceeding Sfr1.5bn and tightening pricing by more than the lead managers had expected.

National Bank of Canada (NBC), rarely seen in the covered bond market, issued a seven year deal on Thursday and although it offered virtually no concession, it was highly subscribed.

The Bank of Queensland’s (BoQ) upcoming conditional pass through (CPT) covered bond, the first CPT from an Australian issuer, will mark a major step in the use of the structure, with cross-currency swaps used for the first time.

South Korea’s Woori Bank printed a $500m Basel III additional tier one on Tuesday off the back of a modest $850m order book. The notes struggled a little in secondary the following day before rebounding on Thursday, putting the focus on the transaction’s pricing and timing, writes Addison Gong.

National Bank of Canada issued a rare seven year euro covered bond on Thursday and although it offered virtually no concession, it was highly subscribed, despite secondary market profit-taking.

Union National Bank (UNB) has announced plans to return to the dollar bond market after an absence of nearly two years.

Michael Reuther, head of Commerzbank’s corporates and markets unit, told GlobalCapital that the banking industry needed to see the “endgame, the final state” of its capital requirements, with an end to the new overlapping layers of extra capital requirements.

The Cover’s 10th annual covered bond awards took place this year at the Rheinterrace in Düsseldorf on Thursday, September 15.

South Korea’s Woori Bank printed a $500m Basel III additional tier one offering on Tuesday off the back of a modest $850m order book. Although the notes sold off a little bit in secondary, bankers on the deal reckon the issuer got away with a decent outcome ahead of expected market volatility.

Woori Bank has set sights on its second dollar-denominated Basel III additional tier one bond, opening books on Tuesday morning. It will be the first South Korean lender to test the bank capital market following a recent rule change on AT1 instruments.

Mercuria Asia Group Holdings and Mercuria Energy Trading are gauging interest from lenders for a joint loan of $900m, according to bankers.

Shares in Informa, the UK publishing and events company, closed 6% higher on Thursday after it launched a fully underwritten £715m rights issue to partially finance its £1.18bn takeover of Penton, the New York-based information services and business-to-business publisher, in a transatlantic deal which the company says will expand its reach in the global exhibitions industry.