Latest News
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CIBC nails fair value on sterling debut despite FIG supply boom
Canadian Imperial Bank of Commerce did not have to pay any premium to investors on Wednesday to launch its first fixed rate deal in the sterling market, which has coped well with a mass of supply in recent days.
02:00 PM -
Twenty-five banks support Orient AMC’s $900m deal
China Orient Asset Management Co (Orient AMC) priced an almost 10 times covered dual-tranche bond with strong backing from its lead manager consortium. The borrower went out without a keepwell deed from the onshore entity, but investors were undeterred by the structure.
10:45 AM -
Monte dei Paschi returns to senior amid rally in Italian FIG
Italian banks are taking advantage of excellent new issuance conditions, as investors re-establish their confidence in the country's new government. On Tuesday it was Banca Monte dei Paschi’s turn to do so with a euro-denominated preferred senior bond, one day after UniCredit and Intesa Sanpaolo.
17 Sep 2019 -
CaixaBank and RBI stand out with ESG bonds on 'ridiculously busy' day
CaixaBank launched a non-preferred senior bond linked to social causes on Tuesday, while Raiffeisen Bank International launched a green preferred senior bond. Both deals were heavily oversubscribed on a day that one banker described as 'ridiculously busy'.
17 Sep 2019 -
Metro Bank eyes bond market comeback in race for MREL
After a tumultuous year, the UK’s Metro Bank is readying a return to the bond market to raise debt for its minimum requirement for own funds and eligible liabilities (MREL) ahead of a 2020 deadline.
17 Sep 2019 -
ABC Singapore lands tight 3yr FRN
Agricultural Bank of China’s Singapore branch has sold the tightest three year floating rate note (FRN) from a big four Chinese bank, adding $500m to its coffers.
17 Sep 2019 -
Sabadell hits the ‘sweet spot’ as ASB struggles for demand in senior
Banco Sabadell and ASB Finance launched senior bonds in the euro market on Monday, with the former hitting the ‘sweet spot’ of investor appetite and the latter struggling to achieve the same level of demand as its Kiwi peer ANZ New Zealand had last week.
16 Sep 2019 -
MetLife breaks new ground for negative yielding FIG issuance
MetLife became the first financial institution to launch a new senior bond in euros at a negative yield on Monday, raising €500m at the short end of the maturity curve.
16 Sep 2019 -
Japanese duo leads Yankee charge in busy week of supply
Yankee banks joined supply frenzy in US dollars this week, as they looked to take advantage of positive funding conditions.
13 Sep 2019 -
BMO and Rothesay Life bring sterling market to life before ECB meeting
Bank of Montreal and Rothesay Life made use of the quieter political situation in the UK this week to issue in sterling, in the same week issuance paced down in the euro market ahead of the European Central Bank’s meeting.
12 Sep 2019 -
Bank of Montreal adds to sterling supply with rare senior bond
Bank of Montreal was marketing a senior preferred bond in sterling on Tuesday, one day after Rothesay Life gave FIG investors a chance to put their money in tier two in the same currency. The Canadian issuer started its trade with a 15bp-20bp concession, according to a banker off the deal.
11 Sep 2019 -
FWD Group’s $600m perp falls in secondary
FWD Group has come to the market with yet another unusual transaction, raising $600m but seeing the bond open a whole point lower in the secondary market on Wednesday morning.
11 Sep 2019 -
Investors on stand-by for new Italian FIG supply
Italian bank bonds have performed very strongly as the country has prepared to welcome in a new government, but investors are still waiting for the sector to produce any new debt supply.
11 Sep 2019 -
EU bank credit ratings have been a 'paradox' in recent years, says Moody's
In the last five years Moody's has raised the average credit rating of the top European banks, but it has simultaneously dropped the average rating on their debt securities. This 'paradox' is down to new EU regulations on bail-inable bonds, the agency said.
11 Sep 2019 -
ANZ New Zealand goes long in senior
ANZ New Zealand was well received after opting for a longer maturity on its return to the euro senior market this week, welcoming €1.2bn of orders for its €500m 10 year.
10 Sep 2019
