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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Belfius Bank is looking to amend the terms and conditions of one of its tier twos so that it can remain eligible for the minimum requirements for own funds and eligible liabilities (MREL). The bond was issued with risk factor language under English law but will now need to be updated to reflect the UK’s departure from the EU. -
Market participants will be reassessing the role of deposit guarantee schemes in European Union bank bailouts after this week’s ruling by the European Court of Justice that the 2014 rescue of Banca Tercas should have been upheld as lawful.
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Banco de Sabadell was met with good demand for the first euro additional tier one benchmark of the year on Tuesday, as investors welcomed a rare opportunity to pick up subordinated bank debt in the primary market. Alpha Bank could add to the supply later this week after unveiling plans for a new tier two transaction.
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HSBC was looking to issue two tranches of additional tier one capital in dollars on Tuesday, as rates markets moved back into a more stable trading pattern.
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DBS Group Holdings navigated choppy market conditions for its first tier two dollar bond in more than two years on Monday, using its strong credentials and rarity value to its advantage.
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Subordinated bank bonds were under pressure on Thursday and Friday, as risky assets fell victim to the same volatility that has been plaguing rates markets for weeks.
