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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Financial institutions debt capital markets officials expect lots of small bond issues rather than a big mass of supply this September, as banks fine-tune their capital structures and bring forward next year’s funding plans. -
Commerzbank did not pay a premium to launch its new additional tier one (AT1) this week, as it found strong demand at the long end of the curve. The bank was returning to the market just three months after its last deal in the format.
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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.
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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.
