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GC Asia
Senior Debt
Handelsbanken flirts with sub-zero yield
Svenska Handelsbanken sailed very close negative yield territory when it printed a €500m seven year green senior non-preferred deal on Wednesday.
25 Nov 2020
FIG
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Senior Debt
Macquarie hits euros for second deal of the year
Investors were delighted to add more exposure to Macquarie Group on Wednesday, after the Australian issuer returned to euros for its second senior deal of the year.
25 Nov 2020 -
Senior Debt
Luminor targets short end in storming return to euros
Luminor Bank was more than 3-1/2 times subscribed on its return to the euro market on Wednesday, allowing it to demonstrate a year-on-year improvement in its senior funding costs.
25 Nov 2020 -
The View
MREL is a paradox for small UK banks
Little lenders are being pushed closer to collapse in the UK by rules that were supposed to make them more resilient. The Bank of England should take note.
24 Nov 2020 -
Covered Bonds
Hungary euro covered bond issuance set for revival
After a decade of slumber, the market for euro-denominated Hungarian covered bonds could be poised to reopen. Hungary covered bonds may have a low country ceiling credit rating but the market is well protected and could offer positive yields.
24 Nov 2020 -
People News
UBS's Vasan steps into global banking position
Vinod Vasan is set to become vice-chairman of global banking at UBS, moving on from a job he was handed only seven months ago as vice-chairman of EMEA debt capital markets.
24 Nov 2020
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Latest News
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UOB sends positive signal to APAC covered bond issuers
The outlook for Asian covered bond supply will have improved slightly in the wake of Tuesday’s deal from United Overseas Bank, particularly among Singaporean lenders. But issuance from Australia and New Zealand is expected to be more limited reflecting their banks' priority to get ahead with regulatory funding.
25 Nov 2020 -
Handelsbanken flirts with sub-zero yield
Svenska Handelsbanken sailed very close negative yield territory when it printed a €500m seven year green senior non-preferred deal on Wednesday.
25 Nov 2020 -
Macquarie hits euros for second deal of the year
Investors were delighted to add more exposure to Macquarie Group on Wednesday, after the Australian issuer returned to euros for its second senior deal of the year.
25 Nov 2020 -
Luminor targets short end in storming return to euros
Luminor Bank was more than 3-1/2 times subscribed on its return to the euro market on Wednesday, allowing it to demonstrate a year-on-year improvement in its senior funding costs.
25 Nov 2020 -
MREL is a paradox for small UK banks
Little lenders are being pushed closer to collapse in the UK by rules that were supposed to make them more resilient. The Bank of England should take note.
24 Nov 2020 -
Hungary euro covered bond issuance set for revival
After a decade of slumber, the market for euro-denominated Hungarian covered bonds could be poised to reopen. Hungary covered bonds may have a low country ceiling credit rating but the market is well protected and could offer positive yields.
24 Nov 2020 -
UBS's Vasan steps into global banking position
Vinod Vasan is set to become vice-chairman of global banking at UBS, moving on from a job he was handed only seven months ago as vice-chairman of EMEA debt capital markets.
24 Nov 2020 -
Rare pair go small with senior pref deals
As benchmark issuance remains on the side-lines, smaller issuers have come out to play, with rare borrowers Cassa Centrale Raiffeisen dell’Alto Adige and Luminor Bank on the hunt for deals Lilliputian in size on Tuesday. A handful of larger issuers are keeping a close eye, and could come to the market with small deals of their own in the coming weeks.
24 Nov 2020
Bond Awards
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GlobalCapital Bond Awards 2020: the winners
GlobalCapital is delighted to announce the winners of its Bond Awards 2020.
30 Sep 2020
Covid-19 bonds
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Bank senior Covid-19 response table
After the global eruption of the coronavirus pandemic, issuers such as governments, central banks and companies have been prompted to create new strategies to tackle the negative effects.
28 Jul 2020
Trending
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China’s bank capital market comes of age
Baoshang Bank’s complete write-down of close to $1bn of tier two debt offers an invaluable lesson to investors in China’s domestic bond market.
17 Nov 2020
People News
Regulatory Capital
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Barclays joins Libor phase-out fray
Barclays has become the latest bank to begin transitioning over the reset rates on several of its additional tier one bonds from Libor to Sonia.
23 Nov 2020 -
Sweden decides on new capital requirements for banks
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Size doesn’t matter: small trades take over FIG market
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Ageas garners demand for tier two
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Bank capital deals fly as issuance volumes begin to fall
Senior Debt
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Handelsbanken flirts with sub-zero yield
Svenska Handelsbanken sailed very close negative yield territory when it printed a €500m seven year green senior non-preferred deal on Wednesday.
25 Nov 2020 -
Macquarie hits euros for second deal of the year
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Luminor targets short end in storming return to euros
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MREL is a paradox for small UK banks
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Rare pair go small with senior pref deals
Covered Bonds
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UOB sends positive signal to APAC covered bond issuers
The outlook for Asian covered bond supply will have improved slightly in the wake of Tuesday’s deal from United Overseas Bank, particularly among Singaporean lenders.
25 Nov 2020 -
Hungary euro covered bond issuance set for revival
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UOB reprices covered bonds with largest deal and record demand
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Brexit deal to send UK covered bonds tighter
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UOB to issue first Singapore covered bond in two years
People & Markets
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MREL is a paradox for small UK banks
Little lenders are being pushed closer to collapse in the UK by rules that were supposed to make them more resilient.
24 Nov 2020 -
UBS's Vasan steps into global banking position
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Bots prepares 2021 launch for DCM platform
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Goldman changes UK IB and ECM leadership
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People moves in brief
MTNs & CP
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MTNs join bank sub-benchmark flurry
Banks were busy issuing sub-benchmark sized deals in the euro public market last week, prompting several issuers to follow suit in the MTN market.
23 Nov 2020 -
Nordic banks to finish 2020 with PPs
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€STR falls to record low, leaves CP on edge
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LSEG reveals new MTN platform
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Bank CP plummets but SSAs pick up slack
Covid-19 Crisis
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FIG
Industrial Bank uses blue, Covid labels for bond return
Industrial Bank Co has locked up more than $800m-equivalent from an international bond sale earmarked for green and social projects.
02 Nov 2020 -
Senior Debt
Secondary bank spreads widen amid coronavirus concern
Concerns over the worsening coronavirus infection rate in Europe sent bank spreads wider on Thursday, as investors avoided taking on risk in the secondary market.
29 Oct 2020 -
FIG
Kookmin takes Covid label to bank capital
South Korea’s Kookmin Bank used a Covid-19 sustainability bond label for its $500m bank capital deal on Wednesday.
29 Oct 2020 -
Senior Debt
A second wave for coronavirus-themed bank bonds?
As Europe moves into a second wave of coronavirus cases, banks could soon return to the market with more Covid-themed bond issuance. However, issuers that do choose to tap the market may find themselves competing with the European Union.
26 Oct 2020 -
FIG
KDB uses Covid label to raise $1bn
Korea Development Bank took $1bn from a dual tranche transaction on Monday, using a social label for one portion of the bond to attract a new group of investors.
20 Oct 2020 -
Senior Debt
Woori Bank debuts in Aussie dollars with Covid bond
South Korea’s Woori Bank sold its first Kangaroo bond on Thursday, raising A$400m to help fund its response to the coronavirus pandemic.
15 Oct 2020 -
Senior Debt
Woori seeks Covid-19 relief in Kangaroo mart
Woori Bank is preparing to make its Kangaroo bond debut, choosing the market to launch its first Covid-19 response bond.
14 Oct 2020 -
Senior Debt
Woori prepares to make Kangaroo bond debut
Woori Bank is set to make its Kangaroo bond debut, seeking to tap the Australian dollar market to fund its coronavirus response.
06 Oct 2020 -
Corp
Asia bonds hit roadblock as heavy supply continues
Weak investor sentiment, oversupply and aggressive pricing strategies hurt the Asian dollar bond market this week. As issuers rushed to sell deals before China’s Golden Week holiday and the US presidential election in November, many were left with transactions that fell short of expectations or slumped in the secondary market. Morgan Davis reports.
24 Sep 2020 -
FIG
CMB battles difficult market for dual tranche trade
China Merchants Bank raised $700m from a dual-tranche transaction on Tuesday, marketed by two different overseas branches with two different structures. But the issuer ran into negative market sentiment that dented appetite for the deal.
23 Sep 2020
Go to GlobalCapital's FIG data pages for league tables and all of the latest information on priced deals, including covered bonds.
View FIG DataIn Depth
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Markets expect EBA guidance will force action on legacy bank capital
European banks could be set for a wave of calls and tenders on legacy debt instruments, after the European Banking Authority demanded a clean-up this week. Action may not be immediate, however, with markets still seeking clarity on a number of key issues.
23 Oct 2020
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UK moves early to dispel fears about bank capital buffers
Markets rejoiced this week after the Bank of England proposed policy changes that will make it harder for UK lenders to run into automatic restrictions on their additional tier one coupons and equity dividends. The move was seen as a way of addressing concern about ‘buffer usability’, which has come to the fore during the Covid-19 pandemic.
22 Oct 2020
