DZ Hyp is preparing to print its first covered bond of the year. The deal could be launched as soon as Monday, which would allow the German lender to get its business done ahead of an expected EU deal for the Support to Mitigate Unemployment Risks in an Emergency (SURE) programme.
Banks are taking another look at funding conditions in the euro market after a strong week of recovery for senior debt spreads.
Four US global banking titans roared out of earnings blackout to raise more than $20bn of debt this week, issuing deals either side of president Joe Biden’s inauguration.
Caffil plans to issue privately placed covered bonds from its social framework, which secures financing for French hospitals. The longer maturities on offer will diversify from those targeted in its benchmark deals and more closely match its loan liabilities, as well as fulfilling investor needs.
A pair of Austrian banks kept a quiet senior euro market ticking over earlier this week. Erste targeted price over size with a new senior deal, while Oberbank attracted a granular orderbook on its first visit to the non-preferred market.
Natixis has hired Mark Soriano, formerly at Barclays, for its capital structure and rating advisory team.
Westpac kicked off 2021’s Australian financials market on Thursday by launching a new tier two bond. Aussie borrowers are expected to focus on capital trades this year in order to meet their total loss-absorbing capacity (TLAC) requirements with tier two debt.
The European Commission is looking to fast-stream work on reforming the EU’s crisis management framework this year, given the lack of political consensus on other issues relating to the Banking Union.
Four US global banking titans roared out of earnings blackout to raise more than $20bn of debt this week, issuing deals either side of president Joe Biden’s inauguration.
DZ Hyp is preparing to print its first covered bond of the year. The deal could be launched as soon as Monday, which would allow the German lender to get its business done ahead of an expected EU deal for the Support to Mitigate Unemployment Risks in an Emergency (SURE) programme.
Caffil plans to issue privately placed covered bonds from its social framework, which secures financing for French hospitals. The longer maturities on offer will diversify from those targeted in its benchmark deals and more closely match its loan liabilities, as well as fulfilling investor needs.
Qatar National Bank, a frequent issuer in the offshore renminbi bond market, has sold its first deal of the year in the currency, raising Rmb1.5bn ($232m).
Mongolian Mortgage Corp's (MIK) dollar bond market return was cancelled on Thursday after pandemic-related protests forced the country's prime minister to resign.
Mark Soriano joins Natixis — Deutsche's Frazer Ross is taking a sabbatical — Fidelity hires private credit team
Swiss franc bond investors are pursuing high quality issues, with Münchener Hypothekenbank harnessing this demand to price a tap of its green preferred senior bond 12bp through fair value this week.
GlobalCapital is delighted to announce the winners of its Bond Awards 2020.
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.
How important is reading the offering circular (OC) on a bond? Not very, according to some investors.
The European Commission is looking to fast-stream work on reforming the EU’s crisis management framework this year, given the lack of political consensus on other issues relating to the Banking Union.
Four US global banking titans roared out of earnings blackout to raise more than $20bn of debt this week, issuing deals either side of president Joe Biden’s inauguration.
DZ Hyp is preparing to print its first covered bond of the year.
The European Commission is looking to fast-stream work on reforming the EU’s crisis management framework this year, given the lack of political consensus on other issues relating to the Banking Union.
Crédit Agricole tapped the Australian dollar market for tier two debt this week, following up last Tuesday's public US dollar benchmark with a privately placed trade in a similar tenor.
Credit Suisse gave investors a rare chance to pick up both fixed and floating rate senior bonds on Monday. The dual tranche deal was met with healthy demand, despite progressing more slowly than expected.
Bank capital has gone back under the microscope during the coronavirus pandemic, with policymakers asking themselves whether the Basel III rules can work as intended. Tyler Davies reports.
The Finnish financial sector wants to put the brakes on new measures aimed at completing the Banking Union, arguing that EU member states should move back into a clearly defined process of risk reduction.
Asia-based Impact Investment Exchange (IIX) has raised $27.7m from a women's livelihood bond that was linked to the Covid-19 pandemic. Its chief executive and founder explains the deal’s rationale to GlobalCapital Asia.
Société Générale took advantage of superlative conditions in the US dollar market at the start of the week, raising $2bn of funding with a tightly priced deal in non-preferred senior format.
Industrial Bank Co has locked up more than $800m-equivalent from an international bond sale earmarked for green and social projects.
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.
South Korea’s Kookmin Bank used a Covid-19 sustainability bond label for its $500m bank capital deal on Wednesday.
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.
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.
Go to GlobalCapital's FIG data pages for league tables and all of the latest information on priced deals, including covered bonds.
View FIG DataEuropean 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.
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.
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