Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Final book tops $6bn ◆ Higher beta paper 'clearly in demand,' syndicate banker said ◆ NIP debated
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
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A senior ETF manager at Invesco says it has become much harder for active funds to beat additional tier one indices, with the market having grown increasing homogenous in recent years. -
Danske Bank slipped in ahead of a post-earnings supply rush on Monday to issue a new tier two note at flat to fair value. According to one banker, the deal showed that investors were still willing to take on risk even as spreads near record lows.
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UBS found room for $5bn of new debt in the dollar market this week, starting with a “phenomenal” result for a new additional tier one (AT1) on Monday and ending with a three-part senior offering a day later.
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Liberty Mutual gave US institutional investors their first chance to pick up subordinated paper with a fixed-for-life coupon in the 144A market this week. Bankers say the issuer may have found a new pool of demand for the product, which has traditionally been reserved for retail channels.
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The European Central Bank has said it is too soon to tell if banks will use the flexibility embedded in the Basel capital buffer framework because the credit impact of the coronavirus pandemic is still unclear.
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Bank bond spreads widened on the back of negative sentiment this week, but a handful of lenders were still able to take advantage of a constructive backdrop in the new issue market.
