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Latest market news

• 'Utter madness' in bank capital as Erste scores blow-out

  Issuers of additional tier one (AT1) capital have been more than 10 times subscribed for new deals on average in 2020 so far. This week's euro trade from Erste Group was no exception, with the €500m bond attracting €6.25bn of orders and a 'phenomenally tight' coupon.

  • 20 Jan 2020

• Covered bond issuers flood back into euros with 'cautious' NIPs

  Issuers rushed to open the euro covered bond market this week. Trades from ABN Amro, Erste Group and LBBW showed that investors are ready to put cash to work, but higher new issue premiums suggested that issuers were taking a 'conservative' approach at the beginning of the year.

  • 07 Jan 2020

• Rare deals ahoy as FIG investors pack up

  The positive market backdrop has driven smaller and less well-known bank issuers to come forward with rare new bond issues. But they are showing up just as investors pack up for the year, meaning they must work hard to lure enough demand, writes David Freitas.

  • 14 Nov 2019

• Dekabank surprises with swift pref bond sale

  Dekabank was quick to launch a preferred senior bond on Thursday, garnering 2.5 times the demand it needed for its €500m print by mid-morning in London. The German lender only ended up paying a small new issue premium to its investors.

  • 14 Nov 2019

• Montenegro gets strong result for first ever 10 year

  Montenegro came to market on Thursday for its first ever 10 year bond. Demand for the euro deal proved strong enough for the issuer to raise €500m and allowed the leads to set the yield roughly flat to fair value.

  • 26 Sep 2019