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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Banco BPM opened books for a new tier two on Monday, as it looked to take advantage of supply and demand dynamics in a quieter September than usual. -
The European Banking Authority has confirmed that there are no major legal obstacles preventing issuers from using six month call periods for their regulatory debt instruments.
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A new tier two deal from Italian lender Monte dei Paschi di Siena on Thursday showed that the market is open for trickier credits looking to sell riskier bonds. The deal emerged as the European Central Bank told Monte to raise capital to complete the sale of €8bn of non-performing exposures to Amco, the state-owned asset management company.
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Singapore’s Oversea-Chinese Banking Corp (OCBC) raised $1bn from a tier two subordinated note on Wednesday that was priced at a new low.
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Virgin Money UK tested the strength of the sterling market this week by looking to raise tier two debt. The UK lender was able to tighten pricing by 50bp and print inside fair value, and the new trade accompanied a tender offer of the issuer’s old securities.
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Erste Group Bank kept the tap open on subordinated supply in the euro market this week with a €500m 11-year non-call six deal.
