Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
French bank is marketing the only two deals in ABS primary
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
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Bonds sold by Banca Monte dei Paschi di Siena were surging higher in secondary market trading this week, amid reports that the Italian bank was close to agreeing plans to offload a €10bn portfolio of non-performing loans. -
Alpha Bank announced plans for a new issue of tier two capital on Monday, as the bank looks make use of a favourable backdrop in the bond market and renewed investor interest in Greek assets.
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Volkswagen Bank has belatedly joined the list of banks whose Pillar 2 requirements were posted on the European Central Bank's website this week. It had initially not consented to its targets being published.
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Low yields have driven financial institution bond investors to put money into higher yielding instruments. The latest wheeze is insurance companies' restricted tier one (RT1) bonds, which investors think offer value. Issuance is set to rise as issuers look to replace grandfathered products.
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Syndicate bankers argue that financial institutions will need to pay a premium to access the bond market in the next couple of weeks, as investors fret about the potential impact of the outbreak of coronavirus in China.
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Investors flocked to a rare offering of restricted tier one (RT1) capital from Phoenix Group Holdings this week, allowing the insurance company to tighten pricing by 37.5bp. The bonds will form part of the financing for the UK firm’s acquisition of ReAssure Group from Swiss Re.
