Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Issuer's joint-tightest spread since 2020 ◆ Constructive backdrop helped execution, says lead ◆ Busy primary market expected on Tuesday
◆ Deal benefits from limited size, green label and short tenor, says lead ◆ Small NIP paid ◆ BPER involved in complex Italian M&A
◆ Larger-than-usual size ◆ Constructive Friday opening led to three well-received FIG trades ◆ ...of which Alpha may have paid the least NIP
◆ Unusually busy Friday for European bank funding ◆ Small premium, large demand ◆ Meanwhile 10 year OAT-Bund spread breaches 100bp
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BPCE opened the long end of the market for French issuers on Monday, setting a strong benchmark with an aggressively priced €750m 10 year deal.
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Intesa Sanpaolo this morning launched an 18 month fixed rate senior unsecured deal, becoming the first Italian bank to tap the market in 2012.
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Sberbank has released price guidance on its dollar benchmark five year senior unsecured loan participation notes in the low 5% region. The notes will be 144a/RegS.
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Aegon, the A3/A-/A rated Dutch insurance firm, has switched the denomination of its revolving credit facility, signing a new €2bn five year syndicated loan to replace an outstanding $3bn line due in September.
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France’s BPCE on Monday launched a 10 year senior transaction, offering the deal just 25bp over where bankers said the issuer’s five year bonds were trading.
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BTA Bank is to seek a restructuring of its debt despite GDR holders’ refusal to consent to the move on Thursday. The 82% state-owned Kazakh bank, which on January 3 failed to make scheduled payments on its $2bn senior bonds, as well as on previously restructured discount debt and subordinated bonds, views the lost vote as no obstacle to negotiations, chairman Anvar Saidenov said.