Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Debut issues, esoteric collateral and full cap stacks are dominating
Together had success in pricing its non-conforming RMBS
Both trades offer investors full cap stacks
The finance provider is marketing its eighth insurance premium-backed ABS
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Banks have already printed more green bonds this year than they sold in the whole of 2020 and the momentum in issuance is showing no sign of slowing. Borrowers are increasingly interested in labelling subordinated debt, amid growing evidence that such products can offer even more pricing power. -
Piraeus Bank has become the first Greek issuer of additional tier one (AT1) capital, finding enough demand this week to launch a CCC rated deal with a coupon below 9%.
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Raiffeisen Bank International launched its first green tier two on Wednesday, landing at a spread that was 10bp inside fair value for an unlabelled deal.
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ANZ was the latest name to throw its hat into the sterling subordinated ring as it ended a nine year absence from the currency with a new tier two capital issue.
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Banco de Sabadell was up to four times subscribed for a tightly priced green deal on Tuesday — its debut in non-preferred senior format. Other FIG issuers are also considering adding ESG labels to more subordinated products, with Raiffeisen Bank International planning a green tier two for this week.
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French insurer Macif is set to issue up to €1.75bn of subordinated debt to fund its coming acquisition of Aviva France.
