Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Deal starts with 'intentionally' lower new issue concession than peers ◆ Slower book building may influence this week's tier two issuance ◆ Pre-funding ahead of French elections results in desired €750m size
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
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Fitch is forecasting a negative outlook for the issuer ratings of some of the largest lenders in the Netherlands, warning that the early introduction of a risk-weight floor for mortgage assets could weigh on the country’s banking sector through additional capital demands. -
Landesbank Baden-Württemberg (LBBW) met investors this week to discuss a debut sale of additional tier one (AT1) bonds. Changes in regulation are prompting issuers to seek new deals in the asset class to optimise their capital layers.
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La Mondiale gave investors a rare chance to put money in restricted tier one (RT1) ranks this week. The bond was oversubscribed by more than 10 times but the insurance company paid a hefty premium to do the deal, according to one source away from it. However, one of the leads disagreed and said the bond was priced “probably inside fair value”.
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Lesser-known Italian financial institutions have moved to the front of the pipeline in the financial institutions bond market, as larger and more frequent funders begin slipping into blackout periods ahead of reporting third quarter earnings.
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Bank capital securities have enjoyed a tremendous performance in 2019, leaving specialist fund managers a little nervous about protecting their returns as the year draws to a close.
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Bank of Ireland was more than three times subscribed for a €300m tier two bond this week, nailing its second attempt at the deal after returning to the market with a wider spread for investors.
