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Latest News
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Monte releases strategic plan amid expectations for capital boost, merger
Banca Monte dei Paschi di Siena has published a new business plan for the next four years, targeting a return to profit in 2022. The plan relies on the bank receiving a capital injection of at least €2bn, which is still under discussion with authorities in Italy and the EU.
01.00 PM -
ECA invites EU legislators to address ‘shortcomings’ in bank crisis rules
The European Court of Auditors published an assessment of the EU’s crisis management framework this week. It urged policymakers to align national insolvency procedures with bloc-wide resolution rules, as a way of making sure that banks are treated consistently when they fall into financial difficulty.
15 Jan 2021 -
RBC keeps it tight after super-subs cash in
Royal Bank of Canada priced its first bond issue of the year as Yankee borrowers made the most of good funding conditions in the run-up to US bank earnings season.
15 Jan 2021 -
Political crisis hits Italian bank bonds as 'jitters' set in
The prospect of Italy's government collapsing began to take its toll on bank debt markets on Thursday morning, with some new issues underperforming in light of the crisis.
14 Jan 2021 -
Crédit Agricole goes down under in search of tier two
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.
14 Jan 2021 -
DZ Bank cleans up legacy tier ones
DZ Bank said this week that it will redeem eight tier one bonds issued out of special purpose vehicles, in preparation of the EU’s Capital Requirements Regulation transition period ending.
13 Jan 2021 -
Banco BPM lands new AT1 on top of IPTs
Banco BPM was unable to tighten through initial price thoughts for a new additional tier one on Tuesday, as it looked to maximise its regulatory allowance for the asset class.
12 Jan 2021 -
Zurich attracts strong demand on dollar sub debt return
Zurich Insurance Company attracted plenty of demand in dollars on Tuesday, as it sold first subordinated dollar trade in over two years — a deal that could fund its acquisition of Metropolitan Life’s US property and casual business.
12 Jan 2021 -
Sabadell sells first bond since end of merger talks with BBVA
Banco Sabadell cut a lone figure on Friday as it ventured out into a quieter market to print a €500m tier two — its first bond since the proposed merger with BBVA fell through last November,
08 Jan 2021 -
Abanca optimises capital structure with new AT1
Spain’s Abanca sold the year’s first subordinated deal in euros on Thursday, when it issued a perpetual non-call 5.5 year additional tier one (AT1) bond to help optimise its capital structure.
07 Jan 2021 -
Yankees storm dollar barricades
Yankee issuers stormed into the US dollar market to lock in record low levels of funding, despite this week’s turmoil in Washington, DC.
07 Jan 2021 -
European FIG pair go long with subordinated dollars
Standard Chartered and Crédit Agricole jumped into the long end of the yield curve on Tuesday, as the pair looked to harness the desire for long-dated dollar debt.
05 Jan 2021 -
Household names pave way for rarer FIG borrowers
A pair of senior non-preferred bonds from Swedbank and Société Générale on Tuesday followed Monday’s opener from ING. With three household names now having established pricing points, rarer borrowers are starting to fill the pipeline.
05 Jan 2021 -
2020 hindsight: bank finance
After a remarkable year, GlobalCapital reflects on some of the most important stories in the bank finance and covered bond markets of 2020.
23 Dec 2020 -
FIG deals shine brightly in dark year
Nobody will forget 2020 in a hurry. It was the year in which a coronavirus pandemic swept across the globe, created economic chaos and forced central banks into swift action. The resulting measures helped to underpin financial markets, bringing yields from record highs in March to record lows in December. But the outlook has always remained uncertain for banks and insurance companies, whose balance sheets are yet to feel the full impact of the crisis. In such a testing year, GlobalCapital wanted to reward the bond deals that achieved stand-out results for issuers — in terms of pricing, execution and timing. The winners are presented here.
17 Dec 2020
