Regulatory Capital - All Articles

  • CEBS to bow to Basel on tougher bank capital rules

    Giovanni Carosio, the chairman of the Committee of European Banking Supervisors (CEBS), said this week that solutions to bank regulation should be global.

    • 29 Jan 2010
  • Sub-debt market has to wait as La Caixa pulls year’s first LT2 on timing and pricing worries

    The first euro capital trade of 2010 — a 10 year bullet lower tier two transaction from La Caixa that was due to be launched this week — was postponed. Lead managers Barclays Capital, JPMorgan and La Caixa pulled the deal after it failed to generate enough momentum ahead of the issuer going into its earnings black-out period.

    • 29 Jan 2010
  • Bondholders spurn Pearl hybrid offer

    Pearl Group might not pay the coupon due in April on a £500m hybrid tier one issue following bondholders’ refusal this week to agree to changes in the terms of the notes as part of a restructuring it is trying to push through.

    • 29 Jan 2010
  • Pearl’s April coupon in doubt as bondholders spurn offer

    Pearl Group might not pay the coupon on its £500m hybrid tier one issue due in April following bondholders’ refusal to agree to changes in the terms of the notes as part of a restructuring it is trying to push through.

    • 28 Jan 2010
  • La Caixa’s LT2 pulled amid blackout and pricing fears

    The first euro capital trade of 2010 — a 10 year bullet lower tier two transaction from La Caixa due to be launched on Tuesday — was postponed following a decision by lead managers Barclays Capital, JPMorgan and La Caixa to pull the trade after it failed to garner momentum ahead of the issuer going into blackout.

    • 27 Jan 2010
  • Punchy La Caixa stays local for market’s first capital deal of 2010

    La Caixa will price the first euro capital trade of the year this week. Lead managers Barclays Capital and JPMorgan have been whispering a 10 year bullet lower tier two transaction in the mid-100s and, having got some domestic demand, they are giving international investors an opportunity to look at the deal.

    • 26 Jan 2010
  • Relief for tier one market as Société Générale calls

    Société Générale this week said that it will retire its Eu500m 7.875% hybrid tier one issue at the first opportunity on February 22, ending speculation that it could allow the deal to roll over. The call will relieve hybrid tier one investors. With just under $22bn of hybrid tier one issues up for call this year, according to Dealogic, 2010 is set to be a testing year for the product.

    • 22 Jan 2010
  • BoI under pressure as EC threatens further dilution

    Bank of Ireland’s share price fell by over 4% on Tuesday as equity markets priced in the possibility of further dilution as a result of the European Commission’s intervention in the bank’s coupon schedules.

    • 22 Jan 2010
  • India Eximbank hires two to lead dollar bond debut

    Export-Import Bank of India is to make its debut in the dollar market next week after hiring two banks to arrange investor meetings in Asia and Europe.

    • 21 Jan 2010
  • BoI under pressure as EC threatens further dilution

    Bank of Ireland’s share price fell by over 4% from Monday’s close as equity markets priced in the possibility of further dilution as a result of the European Commission’s intervention in the bank’s coupon schedules.

    • 19 Jan 2010
  • Relief for tier one market as SG calls deal

    Société Générale will retire its Eu500m 7.875% hybrid tier one issue at the first opportunity on February 22, thus ending speculation that it would allow the deal to roll over.

    • 19 Jan 2010
  • Banco Santander taking a new broom to its capital base

    Banco Santander has offered to buy back up to Eu3.4bn (equivalent) of upper tier two and lower tier two securities. Any and all validly accepted tenders will be accepted and there is no cap.

    • 15 Jan 2010
  • Santander takes new broom to capital base

    Banco Santander has offered to buy back up to Eu2.5bn (equivalent) of upper tier two and lower tier two securities.

    • 11 Jan 2010
  • Bondholders battle Pearl over buy-back terms

    Pearl Group Holding on Thursday ran into trouble as a group of bondholders rejected the embattled insurer’s plans to exchange £100m of one of its £500m tier one issues, which could scupper the company’s plans to get a primary listing on the London Stock exchange in the summer.

    • 08 Jan 2010
  • Battle on as bondholders reject Pearl offer

    Pearl Group Holding on Thursday ran into trouble as a group of bondholders rejected the embattled insurer’s plans to exchange £100m of one of its £500m tier one issues.

    • 07 Jan 2010
  • Bank of Baroda loan ignites debate over Indian pricing

    Bank of Baroda launched a $125m three year fully underwritten loan on Thursday that has triggered a debate among loan bankers about pricing levels for Indian financial institutions.

    • 07 Jan 2010
  • BTMU surprise candidate to pioneer Pandas

    Bank of Tokyo-Mitsubishi UFJ is hoping to become the first foreign company to sell Panda bonds in China’s domestic debt market, after getting permission from the government at the end of last year.

    • 07 Jan 2010
  • Pearl restructures debt ahead of listing

    Pearl Group Holding, the UK life assurance consolidator, is seeking to restructure its tier one debt ahead of a potential primary London Stock Exchange listing, the company said on Tuesday.

    • 06 Jan 2010