Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Like many senior sukuk from the Gulf, local investors will drive demand
◆ Weaker backdrop for FIG issuance ◆ Deal printed with a negligible spread above previous, shorter bond ◆ Nearly triple digit spread lures investors
◆ Rising investor sensitivity due to tight unsecured FIG spreads ◆ Deal centred around real money orders after hitting €4.5bn peak book ◆ Hardly any concession left on shorter tranche, minimal on longer one
Despite the boost in demand, overall unsecured supply still lags behind 2025, with the bulk of recent supply coming in covered bonds
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Foreign banks keep Swiss market busy as issuance slows -
Observers blame slower bookbuilding on deal-specific factors but others see warning shots for whole market
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Late Labor Day this year and mid-September FOMC will constrain September issuance window
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◆ Greek bank's first issuance of the year ◆ Tenor and IPTs attracted domestic and international demand ◆ Deal praised for its strong execution
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◆ Euro deal comes swiftly after sterling appearance ◆ Issuer rarity aids both deals' success ◆ Euro leg losses chunk of orders but ends with similar book to earlier European bank deals
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◆ Deal printed one day after strong third quarter results ◆ Bond and equity investors seem to show no negative impact from North American tariff war ◆ Issuer focuses on cheaper shorter tranche
