Senior Debt

Latest News

  • Deutsche Pbb finds weak demand in debut sterling senior trade

    Deutsche Pbb finds weak demand in debut sterling senior trade

    Deutsche Pfandbriefbank (Pbb) had been spying a chance since August to tap the sterling market for an inaugural senior transaction. The German bank found a good window on Wednesday, but attracted just enough orders to launch the £250m preferred senior bond.

  • Bank duo taps into demand for pref senior

    Bank duo taps into demand for pref senior

    Intesa Sanpaolo and Landesbank Hessen-Thüringen (Helaba) gave investors the chance to put money into preferred senior paper on Tuesday. Both trades attracted chunky order books and gave away a small new issue premium.

  • FIG pipeline bulges as new issuers target senior

    FIG pipeline bulges as new issuers target senior

    Issuers in the financial institutions bond market do not want to see the chance for cheap funding slip, so more are lining up deals. On Monday, Landesbank Hessen-Thüringen (Helaba) mandated leads for a preferred senior bond in euros, and UK insurer Utmost International said it was aiming for an senior unsecured bond in sterling.

  • Scarce UK supply bolsters RBS's rare social bond trade

    Scarce UK supply bolsters RBS's rare social bond trade

    Royal Bank of Scotland launched its debut social bond on Friday, attracting over €2bn of orders for its €750m offering. The trade benefited from a favourable backdrop in the primary market and an increased appetite for UK credit caused by a scarcity of issuance from the country this year.

  • Non-pref senior ‘lost in the middle’ as investors balk at tight pricing

    Non-pref senior ‘lost in the middle’ as investors balk at tight pricing

    Investors staged a protest over pricing in the non-preferred senior bond market this week, causing one transaction to fail and putting two others at risk of falling flat. Comfortable with their returns for 2019 and happy to be able to choose from a glut of new bond offerings, funds have simply been happy to divert their attention elsewhere. Tyler Davies reports.

  • BBVA and DNB work on MREL with pref senior

    BBVA and DNB work on MREL with pref senior

    BBVA and DNB Bank were both looking to build towards their minimum requirements for own funds and eligible liabilities (MREL) in the euro market on Thursday, eschewing non-preferred senior issuance in favour of the cheaper preferred senior format.

  • Higher yielding product finds favour in busy market for bank deals

    Higher yielding product finds favour in busy market for bank deals

    A flurry of new deals this week had issuers having to compete for investors’ attention. Bankers said that higher yielding deals were much easier to sell, with non-preferred senior bonds from Bankia and Lloyds Banking Group proving more popular than a tighter print from Belfius.

  • RBS to offer rare social bond

    RBS to offer rare social bond

    Royal Bank of Scotland is preparing to sell its first social senior bond from its holding company, giving investors a rare chance to add exposure to a UK issuer in the format.

  • OP and SEB overlap in euros with long dated MREL deals

    OP and SEB overlap in euros with long dated MREL deals

    Skandinaviska Enskilda Banken (SEB) got away without having to pay any sort of a premium for its debut non-preferred senior bond on Monday, despite having to compete for attention with Nordic peer OP Corporate Bank.

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Bookrunners of Global FIG

Rank Lead Manager Amount $b No of issues Share %
1 82.52 437 5.88%
2 82.16 401 5.85%
3 77.21 421 5.50%
4 65.25 360 4.65%
5 55.05 470 3.92%