Senior Debt

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  • Coventry scores £250m with non-pref debut

    Coventry scores £250m with non-pref debut

    Coventry Building Society paid only a small premium to issue an inaugural non-preferred senior note on Tuesday, while scoring a pre-emptive senior ratings boost during the process.

  • Coventry Building Society readies non-pref debut

    Coventry Building Society readies non-pref debut

    Coventry Building Society is set to sell its inaugural non-preferred senior bond, which it will use to optimise its balance sheet ahead of a deadline for its end-state minimum requirements for own funds and eligible liabilities (MREL).

  • Tatra Bank debuts green programme

    Tatra Bank debuts green programme

    Slovakian lender Tatra Bank concluded several days of marketing with the sale of its debut green bond on Friday, raising €300m of preferred senior paper, which it will count towards minimum requirement for own funds and eligible liabilities (MREL).

  • Post-results Scandie credit pipeline builds

    Post-results Scandie credit pipeline builds

    A handful of borrowers are circling the Nordic markets with an eye to printing after the end of first quarter results. But the looming blackouts have not deterred every type of credit from tapping the market as a range of corporate, covered bond and financial issuers placed paper this week.

  • ABN hires internally for new UK DCM top job

    ABN hires internally for new UK DCM top job

    Vi Davda has been promoted to a new role of head of UK debt capital markets at ABN Amro, as the Dutch bank looks to expand its business across UK financial institutions and corporate clients.

  • CCB goes global for sustainability bonanza

    CCB goes global for sustainability bonanza

    China Construction Bank Corp turned to the bond market on Thursday to sell a $2.4bn equivalent multi-currency transaction, with each tranche carrying a socially responsible investment (SRI) label. But recent volatility in the region’s credit market, and the issuer’s own ‘ambiguous’ approach to the trade, posed challenges.

  • Cantonal banks make the most of Pfandbriefzentrale absence

    Cantonal banks make the most of Pfandbriefzentrale absence

    Switzerland's cantonal banks enjoyed an open window this week thanks to Pfandbriefzentrale's extended stint away from the market. Elsewhere, the Canton of Zurich was able to harness the lack of sub-sovereign supply to land at an aggressive level versus govvies.

  • SLB fever sweeps FIG market after Berlin Hyp debut

    SLB fever sweeps FIG market after Berlin Hyp debut

    Banks are optimistic that sustainability-linked bonds have a bright future as part of their funding toolkits, after Berlin Hyp became the first financial institution to land a deal in the format this week. More trades are already on the way and market participants are stepping up their efforts to break down the remaining barriers for FIG borrowers.

  • China Huarong’s woes cause pain across Asia’s markets

    China Huarong’s woes cause pain across Asia’s markets

    Fears around the health of China Huarong Asset Management Co rattled investors this week and took a toll on Asia’s bond market. The bad debt manager’s dollar bonds have tumbled, bringing new issuance from China to a near halt and putting pressure on other state-linked credits in the secondary market. Morgan Davis reports.

  • Shinhan continues sustainability momentum

    Shinhan continues sustainability momentum

    South Korea's Shinhan Bank became the latest Asian bank to sell a sustainability bond this month. It raised $500m from its transaction, but felt some pressure from the risk-off sentiment in the region’s credit market.

  • Guotai Junan seals $500m bond

    Guotai Junan seals $500m bond

    Guotai Junan Securities Co faced a choppy market backdrop to price a $500m bond on Wednesday, becoming one of only a handful of Chinese issuers to head offshore this week.

  • Preferred paper preferred on BPCE Kangaroo

    Preferred paper preferred on BPCE Kangaroo

    Demand for BPCE's latest Kangaroo note was skewed towards the preferred senior format this week, with non-preferred paper only making up A$125m ($96.0m) of the A$750m deal. The French firm was also joined in the market by Rabobank, which sold its first Aussie deal after an almost two year absence.

  • Huarong AMC woes drag on China’s bond market

    Huarong AMC woes drag on China’s bond market

    Fears around the health of China Huarong Asset Management Co have spooked investors this week and taken a toll on Asia’s bond market. The bad debt manager’s dollar bonds have tumbled, bringing new issuance from China to a near halt and putting pressure on other state-linked credits in the secondary market.

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