Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Revival of high LTV mortgage lending is creating an opportunity for more SRT and deconsolidation transactions
◆ Austrian lender's biggest capital deal for more than five years ◆ Higher yielding offering piques investor interest ◆ Return to subordinated green issuance
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
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Conditions in the primary FIG bond market have improved of late, tempting European issuers to bring subordinated trades. Rabobank made an appearance this week, adding to a flurry of trades in the format. -
BBVA became the first financial institution to issue green debt in additional tier one (AT1) format on Tuesday, launching a bond with a 6% coupon. The Spanish lender left no premium on the table, according to some market participants.
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Assicurazioni Generali launched a greent tier two capital bond in euros on Monday, confirming the appetite for riskier products across bank capital. The new deal left no premium on the table as the issuer capitalised on demand for green subordinated debt.
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Shawbrook Group, the specialist UK lender, was able to price a new tier two at 9% this week. The deal is set to replace an older bond, which is subject to a tender offer and is otherwise callable later this year.
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Banco Internacional del Perú (Interbank) sold a $300m subordinated bond on Tuesday just two business days after its largest domestic rival raised $850m in the same format.
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Yankee banks ensured a record-breaking first half ended on a high, as European lenders took advantage of strong demand for tier two paper.
