Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ 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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Sparebank 1 SMN is preparing to open books on its debut fixed rate senior unsecured bond this week, EuroWeek Bank Finance can reveal. Conditions would be fine for an issue, said FIG bankers, with the market stable on Tuesday.
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Santander Consumer Bank (SCB) kicked off a roadshow for its debut senior deal on Monday, as conditions in the FIG market improved. The last couple of sessions have seen some positive moves in secondary levels, but what the market really needs is some primary supply, bankers told EuroWeek Bank Finance.
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UBS has launched a cash tender offer for 14 senior unsecured securities denominated in euro, Italian lira, and US dollars, capped at just over €4bn, as it continues its restructuring programme that was unveiled in October.
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The strength of the US market has long been cited as one of the factors affecting tightening pricing in the European market. But the repricing of an £885m facility for UK food retailer Iceland, the first purely European margin reduction seen in the sector for many months, illustrates that demand for European deals is growing independent of the US bid.
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National Australia Bank sold its first Swiss franc trade of the year on Tuesday, the longest dated senior unsecured trade from a financial in the currency so far in 2013. The deal reached its minimum size target, but was hampered by subdued confidence and investors’ preference for shorter dated paper.
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Specialist insurer Beazley is set to replace its outstanding subordinated debt with senior funding through a buyback followed by a retail bond issue.