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Senior Debt

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FIG
◆ Stability leads to third day of FIG sterling issuance ◆ Rabo prints its first tier two four years ◆ BBVA completes first sterling senior bond since 2020
◆ 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
FIG
Bank issuance ranges from strategic tier one capital to insurance subsidiary funding externalisation and big senior bond offerings
FIG
◆ Issuer's joint-tightest spread since 2020 ◆ Constructive backdrop helped execution, says lead ◆ Busy primary market expected on Tuesday
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  • FIG
    FIG syndicators are increasingly worried that a rush of primary activity may not materialise in September because of sovereign debt worries — despite one German issuer bringing a covered bond on Tuesday.
  • FIG
    FIG syndicators are increasingly worried that a rush of primary activity may not materialise in September because of sovereign debt worries — despite one German issuer bringing a covered bond on Tuesday.
  • FIG
    FIG syndicators were underwhelmed by the market’s opening on Monday morning, saying the senior unsecured market would have a busy September — but would be subdued until then.
  • FIG
    Germany’s IKB Deutsche Industriebank is set to buy back more than €1.3bn of government guaranteed paper slightly above par, and bankers expect more FIG liability management exercises after the summer.
  • FIG
    Gloom settled over syndicate desks this week, as FIG bankers faced another week without primary activity. FIG syndicators have continued updating issuers on market conditions with conference calls this week, and say that a strong bank could bring a transaction.
  • FIG
    Gloom settled over syndicate desks on Thursday, as FIG bankers, facing another day without primary market activity, hoped that Credit Suisse’s poor results and its announcement that it was cutting jobs would mark the end of an unpleasant trend.