Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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French banks lead the charge in euros with tighter than average NIPs
First public Spanish consumer ABS since September
Senior, capital issuance expected on Tuesday, after impact of historic precious metals sell-off is assessed
Domivest’s Dutch BTL trade has provided a benchmark for Citi
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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. -
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.
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ING Group showed credit investors are hungry for extra yield on Wednesday, as it proved popular with a new tier two deal paired with a green label.
