Senior Debt

Latest News

  • AIA reopens Asia market with $1bn bond

    AIA reopens Asia market with $1bn bond

    Hong Kong's AIA Group has reopened Asia’s bond market for other quality credits by selling a $1bn deal that offered a generous new issue premium to attract investors.

  • Banks redraw funding plans amid corona crisis

    Banks redraw funding plans amid corona crisis

    The coronavirus crisis has made it difficult for banks to know how much wholesale funding they will need in the coming years. But when a window opened in the primary market this week, issuers showed that they are still focused on trying to build up their levels of total loss-absorbing capacity (TLAC), write Tyler Davies, David Freitas and Bill Thornhill.

  • Books bulge after BoA reopens FIG with big numbers

    Books bulge after BoA reopens FIG with big numbers

    Bank of America reopened the market for financial institution bonds in euros this week and was followed by a slew of other deals as investors welcomed wider spreads and new issue concessions.

  • Banks met with wall of cash on return to primary

    Banks met with wall of cash on return to primary

    The volume of new euro senior debt sold by banks has hit €10bn this week, following deals from Barclays, Credit Suisse and NatWest Markets on Thursday. Yield and spread levels remain high, but market participants have been delighted to see investors throwing their confidence behind new transactions in the middle of the coronavirus crisis.

  • BoA breaks euro silence with expensive senior deal

    BoA breaks euro silence with expensive senior deal

    Bank of America has become the first financial institution to launch a new deal in the European credit market for over a month. The US lender paid a huge premium for its €1.5bn senior bond on Tuesday, but it was able to move past its initial price thoughts on the back of a solid set of orders from investors.

  • FIG market confounded as volatility reigns

    FIG market confounded as volatility reigns

    FIG DCM officials say it is impossible to tell when banks could return to selling unsecured debt, with markets locked in a period of extreme volatility and uncertainty.

  • Yes Bank wipes out onshore AT1s to boost capital

    Yes Bank wipes out onshore AT1s to boost capital

    Yes Bank has written down Rp84.15bn ($1.14bn) of its Basel III compliant additional tier one bonds, becoming the first Indian bank to have its AT1 notes bailed in. The move, together with capital injection from a group of banks led by State Bank of India, is expected to give a much-needed boost to the beleaguered firm’s capital ratio.

  • JP enters eye of the storm as virus vol increases

    JP enters eye of the storm as virus vol increases

    JP Morgan faced down a global market rout this week to print its first senior unsecured dollar bond of 2020, jumping ahead of Wall Street rivals before markets froze in fear over the coronavirus pandemic.

  • Scant comfort for FIG market from ECB virus response

    Scant comfort for FIG market from ECB virus response

    The European Central Bank failed to cheer bank debt investors with a stimulus package at the end of a difficult week that saw credit spreads soar. However, some analysts think that the ECB offered more than was immediately apparent, with its moves amounting to €800bn of capital relief.

  • ‘Carnage’ in Asian bonds as Covid-19 fears deepen

    ‘Carnage’ in Asian bonds as Covid-19 fears deepen

    Asian bonds showed some signs of life mid-week after markets collapsed on Monday. But that reprieve proved to be extremely short-lived, as another round of panic selling on Thursday left issuers with little choice but to put their deals on hold. Morgan Davis and Addison Gong report.

  • Covid-19 fears push up Cinda’s funding costs

    Covid-19 fears push up Cinda’s funding costs

    China Cinda (HK) Holdings Co priced a $2bn four-tranche transaction on Wednesday, paying a premium to reach its size target as the fast-spreading novel coronavirus, or Covid-19, continued to rattle global markets.

  • European bank lobby asks regulators for pandemic relief

    European bank lobby asks regulators for pandemic relief

    Members of the European Banking Federation have called on supervisory authorities for help through the ‘temporary struggle’ of the Covid-19 pandemic, asking them for looser capital and liquidity requirements and special treatment of lending impacted by the virus.

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Bookrunners of Global FIG

Rank Lead Manager Amount $bn No of issues Share %
1 34.68 131 7.53%
2 30.94 124 6.72%
3 28.12 85 6.11%
4 27.14 139 5.89%
5 25.98 62 5.64%