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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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The European Commission will have completed a legislative proposal for the finalisation of Basel III by early October, according to a new agenda published this week. -
Nordea said on Wednesday that it had received its final minimum requirement for own funds and eligible liabilities (MREL) last quarter. The Finnish firm is looking to put a greater emphasis on non-preferred senior debt, rebalancing regulatory resources away from equity and ordinary senior bonds.
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The Prudential Regulation Authority gave more detail on the likely direction of reforms to the risk margin and the matching adjustment on Tuesday, as it launched a quantitative impact study for the review of Solvency II in the UK.
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The European Central Bank has said it fears many euro area lenders are failing to account for sharp rises in credit risk, which may become apparent once pandemic support measures have come to an end.
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Oldenburgische Landesbank (OLB) launched a €100m of additional tier one (AT1) capital on Thursday, with new issuance in the asset class remaining skewed towards sub-benchmark transactions.
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A handful of borrowers have found their additional tier one (AT1) paper upgraded into investment grade territory by Moody’s this week, following adjustments in how the agency treats high trigger instruments.
