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Euro investors have become more receptive to UK bank debt this year, leading to a blowout reception for a covered bond from Yorkshire Building Society this week. But issuers are yet to break a long period of silence in sales of unsecured products, mindful as they are of a Brexit hangover in the euro market. -
Royal Bank of Scotland Group was marketing a long-dated senior bond in the dollar market on Thursday, copying Barclay’s choice of currency with its first deal after results.
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For all its woes, Deutsche Bank’s corporate finance business has much to play for in EMEA, writes David Rothnie.
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Barclays has wasted little time in accessing the debt markets after publishing first quarter results, selling senior bonds out of its holding company in both dollars and sterling this week.
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Spain’s Banco de Sabadell surpassed expectations with its first visit to the non-preferred senior asset class on Tuesday, tightening 35bp during the pricing process and taking away €1bn of new funding.
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Rabobank sold a 12 year non-preferred senior bond in euros on Monday, the longest dated offering that any bank has tried in a senior format so far this year.
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Royal Bank of Canada has wrought havoc with the traditional pecking order for Canadian financial institutions in the credit markets, beating a better-rated peer for spread amid a string of recent senior issuance out of the country in euros. Market participants took the stunning developments this week as clear proof for a long-standing belief: green funding is simply cheaper. Tyler Davies reports.
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Patience is a virtue for anyone looking to challenge decisions made during a bank resolution.
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ASR Nederland was more than 10 times subscribed for a new tier two in the euro market on Thursday, the proceeds of which will be used to finance its takeover of disability insurance specialist Loyalis.
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A tough quarter scuppered Goldman Sachs's strategic update but the bank places deeds before words and is already well advanced in its new strategy, writes David Rothnie
