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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Svenska Handelsbanken found tight pricing for a dual offering of additional tier one (AT1) notes on Tuesday. It became the first European bank to set a dollar AT1 coupon of less than 4.5% for one of its tranches.
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Julius Baer returned to the dollar additional tier one (AT1) market on Tuesday, having pulled a transaction last week. It changed bookrunners, shortened its call period and offered a higher coupon to get its deal away this time.
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China Huarong Asset Management offered investors a new issue premium to get its $1.2bn three-tranche bond past the finish line, a move that resulted in a three times covered book with decent support from real money accounts.
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Turbulent conditions forced several banks to delay bond issuance plans this week, and one even pulled a transaction after launch. Deal flow is likely to pick up again soon, but the cost of funding is certain to be higher, writes Tyler Davies.
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The General Court of the European Union has annulled three decisions of the Single Resolution Board on contributions banks have to make to the EU Resolution Fund. It said the Board had an "inherently opaque" process for calculating these fees.
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AIB Group's new euro tier two capital issue, its first green bond, was comfortably subscribed on Wednesday, lifting confidence in the bank debt market after a difficult start to the week.