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
More articles/Ad
More articles/Ad
More articles
-
Lloyds TSB tapped an ebullient senior unsecured market on Thursday, taking advantage of consistent tightening in secondary markets and CDS to print a €1.5bn five year after two weeks without any primary euro-denominated supply. Swedbank quickly followed suit, pricing a €1bn deal of the same maturity.
-
The bulk of Swedbank’s senior unsecured funding will remain privately placed, despite the firm opening books on its first public deal since early 2010 (see separate story).
-
Despite consistent tightening in the cash market, banks are unable or unwilling to launch new senior unsecured deals, with many in blackout and others waiting for spreads to come in even further, said bankers on Wednesday.
-
Banks previously turned off the senior unsecured market by prohibitive spreads are starting to consider issuance again as secondary market levels tighten, said bankers on Tuesday.
-
Swiss insurer Baloise has got in ahead of a likely flurry of other borrowers by launching its first Swiss franc deal in six months on Monday morning — a Sfr150m minimum seven year senior unsecured bullet.
-
Liquidity in the senior unsecured FIG market is concentrated in the short end of the curve, helping even second tier banks such as Denmark’s Nykredit — which last Friday printed a two year FRN — access the capital markets.