Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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◆ French bank secures 'surprising' demand... ◆... giving the option to go big ahead of national budget ◆ Concessions debated, but higher premium and spreads lure buyers
◆ Best window of the week, lead says ◆ Less concession than other recent deals ◆ Danske "pretty much done" for 2026 funding plan
◆ Deal followed HSBC's €3.75bn three part deal... ◆ ... and paid less NIP, tackling shorter end of curve ◆ Book grew after price revision
◆ First euro funding in almost a decade ◆ Part of early refi of its last euro bond ◆ Rarity makes it a trickier sale during heightened market volatility
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Italy’s inconclusive general election result sent its banks’ senior spreads flying wider on Tuesday morning and made the outlook murky for core issuers looking to bring deals this week. The battle to form a coalition in Italy has the potential to create volatility for some time, said bankers, but any calming news could still leave room for opportunistic trades this week.
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Citi purchased just over $440m of bonds in its senior unsecured buyback, paying the minimum price on three of the bonds being targeted. The bank was able to decline plenty of bonds tendered at higher prices to keep the cost of the exercise down, a person close to the deal told EuroWeek Bank Finance.
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Arion Bank set a milestone for Iceland’s return to the capital markets late last week as the institution sold the first international bond from an Icelandic bank since 2007.
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Nordea launched a new five year Swiss franc line on Monday morning, making it the first Scandinavian bank to tap the Swiss franc market in 2013. The deal is expected to price on Monday afternoon.
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Italy’s general election entered its final day of voting on Monday with markets fearing an inconclusive result that could change what has been a mild year so far for the eurozone debt crisis. Tone in the senior unsecured market was good, said bankers, but issuers were understandably reluctant to hit the screens.
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UBS HAS bought back the maximum €2.25bn of euro and Italian lira-denominated securities it targeted in its jumbo tender offer, as it reduces its funding burden after last year’s extensive restructuring. The bank also announced the prices it will offer investors for its US dollar securities, for which the early-bird participation deadline was on Tuesday.