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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Piraeus is set to become the first Greek bank to print an additional tier one (AT1) bond — the next step in its capital plan after the closing of its €1.4bn equity raise last month. -
Lloyds Banking Group became the latest name to wade into a rampant subordinated sterling market this week, pricing a £500m tier two note on top of fair value.
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European lawmakers are introducing new rules and restrictions for banks in areas where supervisors could be far more effective acting on a case-by-case basis.
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The sterling market has started June in the same way it finished May: busy. But investors are clearly stating a preference for yield, with demand for tier twos far outstripping the interest in senior unsecured deals.
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Close Brothers' tier two refinancing was nearly eight times subscribed on Thursday, allowing the issuer to tighten its new issue spread by an impressive 30bp.
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Crédit Agricole was nearly five times subscribed for a tier two in the sterling market on Wednesday, as investors showed they were hungry for the extra spread on offer through subordinated products.
