Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Higher new issue premiums make deals shine amid market volatility
Citigroup and Wells Fargo hit positive post-Fed market with a $18bn salvo
◆ 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
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Support from French real money buyers helped the book for UniCredit’s tap of its September 2015 senior bonds to swell to €500m on Monday. Italian accounts, meanwhile, were conspicuous by their absence, taking only 5% of the deal.
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BBVA printed the only new euro senior bond from a European financial institution this week as the market softened in the face of renewed concern about the eurozone. The main driver of the negative mood was Spain, but prospects for next week look good provided there is no more bad news from the country, said bankers.
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Hong Kong lender Citic Bank International was busy this week, not just closing a bank capital deal in the dollar market (see separate story), but also raising Rmb500m ($79.3m) from its first public deal in the dim sum bond market on Tuesday.
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Swedbank and Crédit Agricole rounded off a bumper month for Yankee issuance as European banks finally found favourable dollar pricing after months of caution.
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Lloyds TSB and its subsidiary Bank of Scotland (BoS) have taken £3.7bn-equivalent of their own debt off the market in a multi-currency liability management exercise. The banks targeted securities in Canadian dollars, euros, sterling, Swiss francs and US dollars.
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Industrial Bank of Korea and Korea Exchange Bank raised a combined $600m from three year bonds this week, generating $5.2bn of demand and proving that global investors are now ready to embrace shorter-dated bonds, writes Jun Ebias.