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UK long term mortgage lender eyes a private placement for inaugural deal
FIG
◆ French bank adds Swissies to Singapore dollars and euros in ‘relentless’ issuance spree ◆ Funding boss Perrier discusses diversification aims ◆ Private trades across markets identified
Green bond framework update gives investors first chance to buy PPs dedicated to funding nuclear energy
Senior banker hired to build business
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  • Türk Ekonomi Bankasi (TEB) is preparing to join its Turkish bank peers in the medium term note market. Bankers expect it to debut before the summer, but are perplexed by the borrower’s programme which will only let it print notes with maturities of up to a year.
  • UK investors are keen for sterling private placements from Asian banks and the demand is expected to bring new issuers to the market. Oversea-Chinese Banking Corporation took advantage of the demand to sell its inaugural note in the currency this week.
  • Íslandsbanki sold its inaugural euro bond with a €100m private placement on Wednesday, in contrast to Arion Bank's suspension of its planned public benchmark euro deal last week.
  • Investors scrambled for Dexia Crédit Local’s short dated floating rate notes this week amid a lack of bank supply. Several Nordic banks have yet to post levels after coming out of blackout over the past week, and those that have are posting too aggressively to find demand, said bankers.
  • FIG
    Arion Bank has launched its first EMTN programme as it prepares for its euro bond sale. The bank will find strong demand in the private placement market, and more investors will look to the name when creditors sell their stakes in the bank, which could be as soon as this year, according to bankers.
  • Having released its first quarter results on Thursday, Danske Bank is expected to return to the private placement market. Investors are waiting till it posts levels to pick which Nordic bank notes they want to buy, according to medium term note dealers.