Latest News
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Goldman smashes 5% in pref market as BNPP makes triumphant return
Goldman Sachs set the lowest coupon of 2019 on a new preferred deal in the institutional bond market this week, while BNP Paribas buried the memory of its troubled dollar trade in January with a storming come-back.
08:00 PM -
LBP endorses ‘decimalisation’ of AT1 market after tight debut print
La Banque Postale has suggested that issuers of additional tier one (AT1) capital should drop the tradition of making large pricing steps in the euro market, after setting a very low coupon for its debut in the asset class this week.
01:00 PM -
Debt bankers change tactics as HK turmoil rages
Asian debt bankers were forced to react to a tumultuous week of protests in Hong Kong, cutting short the bookbuilding window for new deals. But although bankers had to change tactics, the market largely endured the turmoil. Addison Gong reports.
12:00 PM -
Nanyang lands tier two bond despite turmoil
Investors looked beyond Nanyang Commercial Bank's Hong Kong home to its Chinese parent this week, allowing the borrower to close a $700m Basel III-compliant tier two subordinated deal, despite the protests happening in the city.
10:15 AM -
LBP faces resistance on pricing after plunging below 4% with debut AT1
La Banque Postale shied away from hitting the bottom end of the guidance pricing range for its debut additional tier one (AT1) on Wednesday, after losing about half of its order book during the sales process.
13 Nov 2019 -
Lloyds heads to home market for new £500m AT1 transaction
Lloyds Banking Group marketed an additional tier one in the sterling market this week, making use of favourable conditions. The lender was “quite an attractive credit” in an undersupplied market, according to analysts.
13 Nov 2019 -
AIB scores tier two for MREL
AIB Group has wasted little time in accessing the debt markets for subordinated capital. It launched a tier two bond this week, little over a month after selling an additional tier one (AT1) bond, adding to its minimum requirements for own funds and eligible liabilities (MREL).
12 Nov 2019 -
StanChart reopens Reg S route for European bank tier twos
Standard Chartered sang the praises of the Reg S only dollar market this week, after building a chunky order book behind its first tier two in the format in seven years. The deal kick-starts a busy period of capital issuance for the UK bank.
07 Nov 2019 -
LBP adds to flexible call date trend with debut AT1
La Banque Postale is looking to strengthen its capital position with a new additional tier one bond, beginning investor meetings on Friday. The issuer joins a growing trend towards issuers employing six month par call options in their perpetual securities.
07 Nov 2019 -
Ukreximbank opens pricey tier two debut
The State Export-Import Bank of Ukraine is on screens for its first ever tier two bond, angling for a steep price.
07 Nov 2019 -
Unicaja debuts in T2 as ING keeps investors busy
The first tier two from Spain’s Unicaja Banco was more than three times subscribed this week after it entered a strong new issue market. It appeared alongside ING, which paid a slim 5bp premium to print a deal in the same asset class.
06 Nov 2019 -
Danske doubles back around in tier two with tighter print
Danske Bank has made its second visit of the year to the euro tier two market, paying a much tighter spread for a deal that was otherwise identical to its earlier transaction. The Danish issuer has been subject to higher capital requirements in 2019, amid the fallout from a series of high profile money laundering investigations.
05 Nov 2019 -
DNB smashes through 5% with pricing on new dollar AT1
DNB Bank moved the pricing by 37.5bp on a new additional tier one (AT1) in the dollar market this week, becoming one of the first banks to break through the 5% pricing marker.
05 Nov 2019 -
UniCaja lines up T2 as Spanish banks seize on 'positive' conditions
Spanish banks are using strong market conditions to their advantage towards the start of November, with Banco de Sabadell completing its annual funding plans this week and UniCaja Banco getting ready to launch its debut tier two transaction.
31 Oct 2019 -
Investors get set to welcome green bank capital as ANZ preps T2
Australia & New Zealand Banking Group (ANZ) is getting ready to offer FIG investors a very rare chance to purchase green bank capital in euros, with the issuer set to hit the road for a new tier two in November.
31 Oct 2019
