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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Commerzbank and Crédit Agricole this week showed that banks do not have to pay big premiums for subordinated paper, with investors regaining their appetite for risk during the coronavirus pandemic. -
Commerzbank set up an issuance programme this week that will enable it to sell up to €3bn of additional tier one (AT1) debt. The German lender is preparing to take advantage of regulatory relief in its Pillar 2 capital requirements.
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Aviva was set to raise £500m of tier two capital on Wednesday, fuelling speculation that the UK insurer would be looking to call one of its outstanding perpetual bonds.
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The EU should further loosen bank leverage ratio requirements if it wants to avoid a credit crunch amid Covid-19, according to Michael Lever, head of prudential regulation at the Association for Financial Markets in Europe.
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The European Banking Authority warned this week that lenders could struggle with asset quality problems for years as a result of Covid-19, publishing the findings in its first sensitivity analysis of the EU banking sector.
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Lloyds Banking Group has become the latest financial institution to extend the life of an additional tier one capital instrument (AT1), after arguing on Friday that it would be "uneconomic" for it to refinance its €750m 6.375% notes amid the stress of the coronavirus pandemic.
