Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Unusually busy Friday for European bank funding ◆ Small premium, large demand ◆ Meanwhile 10 year OAT-Bund spread breaches 100bp
◆ Market participants await Meta's rumoured euro debut ◆ Carrefour sells first Friday corporate deal since June ◆ Three FIG names hit the market
Higher new issue premiums make deals shine amid market volatility
Citigroup and Wells Fargo hit positive post-Fed market with a $18bn salvo
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The wind was knocked out of the sails of the senior market on Wednesday morning as the two most recent issues — Société Générale’s five year and Santander’s two year — moved sharply wider.
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ING’s Australian branch found strong European and Asian demand for its dual tranche Aussie dollar deal on Wednesday morning. But the Australian bank is likely to be a rare issuer given its high deposit inflows, the bank’s treasurer told EuroWeek Bank Finance.
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Santander provided the first senior unsecured deal from a periphery eurozone borrower since July — and the first from Spain since March on Tuesday, pricing €2bn of paper in a defensive two year maturity.
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Société Générale was set to issue a long five year senior bond on Tuesday into a wide open euro market that has seen everything from JP Morgan 10 years to Santander two years being printed in recent days.
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KBC highlighted the increased risk appetite among senior unsecured investors on Monday, with a €500m no-grow four year trade that drew hefty demand — much more than bankers expected.
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KBC Bank took advantage of the positive mood in the senior unsecured market on Monday, launching a four year trade that could open the market for other single-A rated issuers in the middle of the curve.