Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Deal is the tightest ever Greek AT1 ◆ Book peaked more than €5.5bn ◆ Market 'just ridiculous', says lead manager
◆ 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
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Trading in Banca Monte dei Paschi di Siena’s tier twos has heated up this week, following reports the Italian lender is looking for a new capital raise as well as a merger deal. -
Fresh lockdown restrictions added to a sense of anxiety in Europe at the start of the week, with credit markets already on tenterhooks ahead of the US presidential election.
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Lloyds Bank has amended the terms of its consent solicitation for two of its additional tier one (AT1) notes, after failing to reach a quorum at its first bondholder meeting. It now plans to use a different spread methodology to calculate the switch over from Libor to Sonia.
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Piraeus Bank expects to hear from the Single Supervisory Mechanism (SSM) this month about whether it can pay the annual coupon on its contingent convertibles (CoCos) in cash. A failure to honour the payment will result in the Greek state-held bonds being converted into equity.
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Santander began phasing Libor out of two of its outstanding additional tier (AT1) one notes this week, having appointed NatWest Markets to lead the process to restructure the bonds to reference Sonia.
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South Korea’s Kookmin Bank used a Covid-19 sustainability bond label for its $500m bank capital deal on Wednesday.
