Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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Standard Chartered gave euro investors another rare opportunity to build exposure to UK subordinated debt on Tuesday, as it followed Barclays in issuing a tier two transaction in the currency. -
Five banks are set to bring nearly Rmb60bn ($9.23bn) of subordinated bond supply to China’s domestic market this week, making it the busiest week for onshore bank capital deals so far this year.
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Barclays gave euro investors a rare chance to buy UK bank capital on Monday, as the issuer selected the currency for its second tier two of the year. Its €1bn transaction was four times subscribed at final terms.
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Paragon Banking Group is looking to issue a new debt capital instrument in green format, while at the same time offering holders of its existing tier twos a chance to exchange their bonds for cash.
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Hannover Re was able to price a new tier two through fair value on Monday, with analysts expecting the issuer to use its new bond to fund growth opportunities.
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Aviva was met with strong demand for a tender offer this week, prompting the firm to buy back £200m more bonds than expected and increase the size of its debt reduction targets.
