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Latest News
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Markets debate leverage ratio calculation as ECB extends support
The European Central Bank will allow banks to exclude central bank exposures from their leverage ratios for longer than originally planned, sparking a debate over whether the relief measure could become a more permanent feature of EU banking policy.
21 Jun 2021 -
Crédit Agricole phases out Libor for Sonia with AT1 exchange
Crédit Agricole has phased out Libor for Sonia on some of its outstanding sterling additional tier one (AT1) paper, following the successful completion of an exchange offer that allowed investors to swap old paper for new notes with a modified back-end.
21 Jun 2021 -
ANZ eyes diverse TLAC build-up and senior return
ANZ plans further diversification of its total loss-absorbing capacity (TLAC) eligible debt following the issuance of the first sterling tier two from an Aussie bank in over 13 years, with other niche markets in the bank’s crosshairs. However, sub debt is not the only thing on the bank’s menu, as it anticipates a return to senior funding later this year.
18 Jun 2021 -
Raiffeisen returns to Swissie AT1
A reverse enquiry from an institutional investor drove Raiffeisen to reopen its Swiss franc additional tier one (AT1) note this week, which was bumped up even further by demand from retail buyers.
17 Jun 2021 -
FIG Bond Awards 2021 — the winners
GlobalCapital is delighted to reveal this year’s winners of its Financial Institution Bond Awards, which celebrate the top issuers, arrangers, bankers and service providers in the capital markets.
16 Jun 2021 -
Most Impressive Investment Bank for Financial Institution SRI/Green Capital Markets — ING
Being a leader in green and sustainable capital markets takes much more than arranging bond frameworks. From advising on sustainability ratings, to structuring deals and managing reporting, to embedding sustainability in lending products, ING is helping clients throughout their sustainability journey.
16 Jun 2021 -
Coming Force in Financial Institution Bonds — TD Securities
The FIG debt capital markets business is as competitive as they come but TD Securities has established itself over the last few years by building a reputation as a house that will go the extra mile for issuers.
16 Jun 2021 -
Best Rating Agency for Financial Institution Bonds — Moody’s Investors Service
Consistency, predictability and transparency were the watchwords for Moody’s financial institutions team over the last year as it navigated the extraordinary conditions during the Covid-19 pandemic.
16 Jun 2021 -
Most Impressive Bank for Financial Institution Bonds — HSBC
The European bond market for financial institutions has swung away from liquidity and towards capital, while ESG is becoming an ever-more important theme. Successful lead managers have needed expertise across all these areas, as well as the global distribution capability to help issuers find opportunities wherever and whenever they arise, a recipe well-suited to HSBC.
16 Jun 2021 -
Sparebanken Vest finds Nokkie demand for AT1
Sparebanken Vest this week paired a visit to its home market for additional tier one (AT1) debt with the early redemption of outstanding paper in the format.
16 Jun 2021 -
BayernLB challenges status quo in German T2s with tight green deal
BayernLB launched its first green tier two in euros on Wednesday, bringing its pricing into a very tight level and challenging assumptions about the relative value of the German tier two market.
16 Jun 2021 -
‘Bullish mood’ helps Commerzbank crank pricing on AT1
Commerzbank was almost six times covered at the peak of its book for a €500m additional tier one (AT1) on Tuesday, as the German firm leveraged the small size of the transaction to squeeze pricing.
15 Jun 2021 -
Bankinter sails close to fair value on return to T2
Spanish lender Bankinter paid a visit to the tier two market for the first time in four years on Tuesday, raising €750m of capital while paying next no new issue premium.
15 Jun 2021 -
Macif enjoys massive €14bn book for triple trancher
French insurer Macif hit all the subordinated formats available to insurance issuers on Monday, as it attracted a bumper €14bn book for a triple tranche deal to fund its acquisition of Aviva France.
14 Jun 2021 -
ESG deals dominate FIG pipeline
Three European banks are lining up trades to finance their environmental, social and governance (ESG) objectives this week, with more than half of euro FIG bond issuance arriving in labelled formats in June so far.
14 Jun 2021
