Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ 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
Bank issuance ranges from strategic tier one capital to insurance subsidiary funding externalisation and big senior bond offerings
◆ Issuer's joint-tightest spread since 2020 ◆ Constructive backdrop helped execution, says lead ◆ Busy primary market expected on Tuesday
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After successful deals from JP Morgan and UBS on Wednesday, volatility in cash spreads and indices prompted Denmark’s Nykredit to postpone its planned sale of three year senior unsecured bonds. On Wednesday morning, the issuer mandated UBS and UniCredit to manage the sale, and spent the rest of the day speaking to investors.
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With UBS and JP Morgan in the market for senior unsecured bonds on Wednesday, bankers said that Nykredit’s three year fixed, which is likely to price on Thursday, will show whether the weak market conditions can accommodate anything other than strong national champion names.
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UK banks may take advantage of a government guarantee buyback scheme to show their strength in the market, bankers said on Wednesday.
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Two Italian banks took advantage of improving sentiment in the senior unsecured FIG market to launch bond issues on Tuesday, after a quiet Monday during which market participants digested weak US economic data, a change of government in Portugal and indications of a new Greek bailout.
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Tesco Bank has mandated Barclays Capital and Lloyds to lead a roadshow for a potential sterling-denominated retail transaction, which the borrower could be in a position to sell next week.
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Investec Bank Australia has launched a second buyback of government guaranteed debt, targeting A$200m of transferable deposits due in February 2012.