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Senior Debt

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  • SMBC prints bumper Aussie dollar deal

    SMBC prints bumper Aussie dollar deal

    Sumitomo Mitsui Banking Corp sold its largest every Australian dollar deal on Tuesday, scooping up A$2.4bn ($1.6bn) of senior unsecured paper through its Sydney branch.

  • Credit Suisse extends TLAC run with new sterling deal

    Credit Suisse extends TLAC run with new sterling deal

    Credit Suisse launched its first sterling bonds of the year on Tuesday, moving to within touching distance of completing its annual issuance plan for its total loss absorbing capacity requirements (TLAC).

  • Foreign duo mandate Aussie dollar deals

    Foreign duo mandate Aussie dollar deals

    A pair of foreign banks mandated senior unsecured Australian dollar transactions on Monday: Sumitomo Mitsui Banking Corp is out with initial price thoughts through its Sydney branch, while the Canadian Imperial Bank of Commerce is preparing a Kangaroo benchmark.

  • Markets 'good enough' for FIG pipeline to carry on building

    Markets 'good enough' for FIG pipeline to carry on building

    Deal arrangers said on Monday that banks would not be dissuaded from bringing new bond deals to the market, though spread levels have started showing their first signs of weakness following an extraordinarily strong month in May.

  • BBVA brings Covid-19 bonds to European credit markets, others to follow

    BBVA brings Covid-19 bonds to European credit markets, others to follow

    BBVA surprised market participants by becoming the first bank to issue a Covid-19 response bond in Europe this week. There will be follow-on deals as the format catches on in credit markets — high grade corporates are looking to do deals too — but it is unlikely to be exploited as widely as it has been in the SSA market. David Freitas and Mike Turner report.

  • MREL tenders ‘logical next step’ for banks

    MREL tenders ‘logical next step’ for banks

    HSBC Holdings is the latest European financial institution to have looked at launching a new deal for the minimum requirements for own funds and eligible liabilities (MREL) while simultaneously announcing tender offers on existing bonds.

  • ECB casts doubt on bank MREL targets

    ECB casts doubt on bank MREL targets

    The European Central Bank said this week that Covid-19 could hamper some banks from meeting their targets for the minimum requirements for own funds and eligible liabilities (MREL), given the likelihood of credit rating downgrades and dislocation in the funding markets.

  • BOC Aviation swoops into bond market for $750m

    BOC Aviation swoops into bond market for $750m

    BOC Aviation leveraged on its ties to its Chinese state-owned parent and its own standalone credentials to raise $750m on Tuesday. It proved that it has access to bond market liquidity at a time when companies focused on aircraft leasing have been hit by the Covid-19 pandemic.

  • BFCM adds to non-pref supply with long dated deal

    BFCM adds to non-pref supply with long dated deal

    Banque Fédérative du Crédit Mutuel tested appetite on Tuesday for a 10 year non-preferred senior deal, with supply in the asset class having slowed to a near standstill during the coronavirus pandemic.

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