Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Gulf AT1 issuance is much higher than last year, tiring out investors
◆ Italian lender achieves tight spread, pays 'generous' concession ◆ But book building deemed slower ◆ Some tier two fatigue creeps into market
Banker had been at NatWest for three years
This is its first ABS deal since November 2023
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Subordinated debt needed to support growth of public sector lender -
◆ Late emergence of a new FIG issue surprises some ◆ RT1 comparables debated ◆ French sovereign exposure 'more limited' than peers
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Relentless appetite for financial institution paper led to a collapse in new issue premiums at the start of 2024. In the second half of the year, however, some investors pivoted away from senior paper and into subordinated debt as the hunt for yield intensified, writes Sarah Ainsworth
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Central bank interest rates cuts turbocharged the unsecured FIG market in 2024, making for a strong year for bond issuance. With further rate cuts in Europe expected in 2025, Atanas Dinov reveals how market participants expect the year to unfold
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The Australia-specific approach has no immediate impact on other major markets
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◆ Senior and tier two deals possible this week ◆ Some bankers '100% sure' that NIPs will rise in January ◆ Senior versus covered debate
