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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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 hit the minimum size target, but was hampered by subdued confidence and investors’ preference for shorter dated paper.
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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 announced in October.
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NIBC Bank has stepped up its government guaranteed (GG) buyback programme with a capped €1bn tender offer for three senior unsecured bonds denominated in euros and dollars. Repurchasing the full amount would leave the bank with €2.3bn of the €6.7bn of GG bonds it issued at the height of the financial crisis in 2009.
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A small sterling tap from ASB Finance was the only source of fresh senior unsecured supply on Tuesday morning on what FIG bankers said was a slightly better day in the market. Santander Consumer Bank Norway, meanwhile, mandated banks for a debut euro transaction.
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Senior bondholders may have dodged a bullet in last week's nationalisation of Dutch financial group SNS Reaal, parent of SNS Bank. But the senior unsecured funding market now faces the threat of bail-in rules being brought forward following comments from the Dutch Finance Minister and ECB vice president last week.
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National Australia Bank is set to price a ten and a half year Swiss franc deal on Tuesday, the longest outstanding trade from an Australian issuer in the currency, showcasing investors’ continued interest in issuers from the region.