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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The Bank of Spain has triggered the switch of a Banco Mare Nostrum pre-IPO convertible bond into equity as part of a recapitalisation and restructuring plan that also encompasses a subordinated debt liability management exercise. While the move surprised some market participants, most said it was unlikely that central banks outside Spain would employ such measures.
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PNC Bank and Sallie Mae grabbed the opportunity to tap the dollar market after last week’s glut of trades from Wall Street heavyweights.
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Goldman Sachs returned to the euro senior unsecured market on Friday after an absence of more than 18 months, printing a €1bn bond with a rare 10 year tenor.
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ABN Amro sold its Kiwi dollar debut on Thursday as it ramps up its niche currency issuance, diversifying its funding base into investors looking for high yielding deals, a senior funding manager at the Dutch bank told EuroWeek Bank Finance.
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FIG market participants are hoping that the €137.2bn of three year LTRO funding due to be repaid by 278 banks at the first opportunity next week has come mostly from strong, core European banks, rather than weaker peripheral names. The ECB has not specified which lenders are returning their funds, but the larger than expected number is being seen as positive for the region’s financial sector.
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FIG issuance took the lead in Swiss francs this week, with senior unsecured deals from NIBC, ANZ New Zealand and Goldman Sachs. While NIBC paid up to regain access to a market it was barred from in 2012, ANZ NZ and Goldman Sachs seized opportunities for tight pricing.