Senior Debt

◆ Receptive but crowded FIG market requires concessions for funding to clear ◆ BBVA goes big with its first SP in more than two years ◆ Bawag issues first bond after PTSB acquisition

Atanas Dinov, September 22, 2026

FIG

Dark clouds surround The Eiffel Tower as seen from Rue Soufflot , a street lined with impressive apartment buildings ,Paris ,France

French banks grab opportunistic funding across the capital stack as OATs deteriorate

Bank issuance ranges from strategic tier one capital to insurance subsidiary funding externalisation and big senior bond offerings

Atanas Dinov, September 22, 2026

FIG

Building of AIB (Allied Irish Bank) branch in Dalkey, Dublin, Ireland

AIB achieves 'amazing spread' on green senior offering

◆ Issuer's joint-tightest spread since 2020 ◆ Constructive backdrop helped execution, says lead ◆ Busy primary market expected on Tuesday

Flynn Nicholls, September 21, 2026

FIG

ROME, ITALY - JANUARY 15, 2025: Signage of BPER Banca on an office building in Rome, Italy. Formerly banca popolare dell emilia romagna it's an italia

BPER Banca grabs constructive window to print rare non-preferred

◆ Deal benefits from limited size, green label and short tenor, says lead ◆ Small NIP paid ◆ BPER involved in complex Italian M&A

Flynn Nicholls, September 21, 2026

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FIG

LTRO funds help stretch senior FIG market’s short-end trend

Barclays launched a €1.5bn self-led two year floater on Tuesday, following ABN Amro, Nordea and Rabobank, which all launched deals in that part of the curve last week, and SBAB, which priced one on Monday.

January 10, 2012
FIG

Rabo returns to Swissies but stands alone

Rabobank is to bring its first Swiss franc deal in five months — a Sfr200m minimum 2% seven year senior unsecured note.

January 09, 2012
FIG

Senior FIG supply excites despite exclusivity worries

The FIG market was on Monday morning torn over how to interpret a slew of senior deals. While some believed the market was beginning to move down the credit spectrum, others remained convinced that issuance would not move past the club of top tier borrowers that has dominated the year so far.

January 09, 2012
FIG

Premium senior holds steady as investors wait for primary supply

Senior deals from top tier Dutch and Nordic issuers earlier this week were holding steady in the secondary market on Friday, as investors waited for more primary supply rather than turning to the secondary market.

January 06, 2012
FIG

Senior, covered bonds wake from fever but bankers fear relapse

Banks went on a binge of bond funding as the covered bond and senior debt markets reopened after long gaps. Investors devoured €15bn of covered paper and €10bn of senior.

January 06, 2012
FIG

Top tier issues senior as LTRO spurs banks

Bank investors hoovered up short end paper in this week’s senior unsecured offerings as they sought to recycle three year money from the European Central Bank, while issuers also attracted real money buyers at the longer end of the curve. But despite the positive tone, bankers said it would not be long before the market ran out of high quality issuers.

January 06, 2012