Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Record sized sterling deal for an Australian bank ◆ Achieves pricing inside equivalent euro level, lead says ◆ Follows record earnings
◆ Deal follows same structure as SEB's Monday trade ◆ Market conditions made for 'easy' go/no-go decision ◆ Low new issue premium
◆ Capital trade attracts investors for juicy return in tight market ◆ Slightly longer 11NC6 structure chosen for triple digit spread and 4%-plus yield ◆ Deal cleared at low single digit concession
Siena deal is backed by a $1.5bn portfolio
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◆ UK insurer prints inaugural dollar tier two a day after main sterling leg ◆ Achieves currency and investor diversification while meeting £750m funding target ◆ Revival in sterling FIG across capital structure -
◆ FIG pipeline fills with subordinated euro deals ahead of Thursday's ECB meeting ◆ Rebranded My Money Group lines up sub-benchmark AT1 ◆ Alpha Bank and Athora prepare tier twos and tenders
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◆ Pricing above 8% confused rival bankers who put fair value in high 7% ◆ Large size deemed motivator for the trade ◆ Likely refi of $2.75bn in AT1 calls later this year
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Wide spreads have insulated eurozone periphery borrowers from rates volatility — for now
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◆ Market volatility no hindrance for foreign and domestic FIG issuers ◆ They take advantage of favourable conditions ◆ May volume to end more than 80% higher compared with a year ago
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◆ ECB rate cut seen as all but certain next week but rates outlook to drive sentiment in primary market ◆ Investors may turn more selective ◆ Profit taking tipped after spread tightening
