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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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Bank bond spreads widened on the back of negative sentiment this week, but a handful of lenders were still able to take advantage of a constructive backdrop in the new issue market. -
China is allowing banks to issue perpetual bonds with an equity conversion provision, an attempt to balance the need to help smaller lenders shore up their capital with a desire to protect investors. Addison Gong reports.
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ANZ returned to the euro market with a tier twovlinked to the UN’s sustainable development goals (SDG) this week — going on to print a deal that was over three times covered at guidance.
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La Banque Postale (LBP) sold €500m of tier two paper this week, marking the normally rare issuer’s second sale in the format in just over three months.
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BNP Paribas is set to redeem one of its legacy tier one bonds in full this quarter, as more banks follow recent guidance from the European Banking Authority and clear out old capital instruments.
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Svenska Handelsbanken has become the latest European bank to put out a call notice for one of its additional tier ones. Market participants are expecting a clean sweep of redemptions for the asset class this year.
