Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Market reopens with the first public ABS deal since July 24
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
Attractive market across the capital stack prompts expectations for foreign bank supply until the very end of August
◆ Record sized sterling deal for an Australian bank ◆ Achieves pricing inside equivalent euro level, lead says ◆ Follows record earnings
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Sweden set out on Friday how it will apply the EU’s latest capital rules to its banks. Market participants highlighted that the planned changes would give issuers less headroom over the coupon cancellation threshold for their additional tier ones (AT1s). -
Small transactions reached big audiences in the financial institutions bond market this week, as investors realised they would need to consider buying sub-benchmark supply in order to make the most of a dwindling deal pipeline. Tyler Davies and Frank Jackman report.
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Belgian insurer Ageas sold its first deal in almost a year this week, with the spread on offer helping to drive demand to more than three times covered.
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Erste Group Bank and Société Générale both capitalised on the euro market’s extremely favourable conditions this week, pricing new subordinated deals in line with fair value or even through it.
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The European Central Bank revealed this week that 10 small banks would be operating below their regulatory capital requirements if they hadn’t made use of transitional support measures during the coronavirus crisis.
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The additional tier one (AT1) market has plenty of room left to rally, according to a new report from analysts at Morgan Stanley, even though valuations are already drawing close to other asset classes.
