Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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UniCredit opened books on Tuesday for what could be its last capital transaction of the year. The bank favoured the dollar market for its new tier two, having sold a senior transaction in euros only last week. -
The US Federal Reserve will publish the results of its latest bank stress tests this week, after updating the exercise to include three new scenarios related to Covid-19. The new scenarios could have a bearing on dividend policy, but capital requirements will still be based on the pre-pandemic stress test model.
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The European Banking Authority will carry on guiding banks to apply favourable treatment to loans covered by payment holidays, though it recognises that liquidity issues facing companies during the Covid-19 pandemic could soon turn into solvency issues.
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The European Parliament has voted overwhelmingly in favour of a series of temporary amendments to the Capital Requirements Regulation. The changes will offer banks capital relief during the coronavirus pandemic, including via a prudential filter for government bond exposures.
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China Construction Bank Corp has sold the first Basel III-compliant tier two bond from China since the global outbreak of the Covid-19 pandemic, raising $2bn.
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Legal & General’s order books peaked at over £4bn ($4.96bn) as it made its first sale of restricted tier one (RT1) capital this week, joining many of its UK peers in the asset class. The insurer used the popularity of its trade to tighten the pricing and leave no new issue premium behind.
