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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Santander provided the first big deal of the month on Tuesday, closing books at 11.45am for a four year fixed rate note, expected to be around Eu1bn in size. Meanwhile, Intesa Sanpaolo and Aareal Bank both opened books on three year deals.
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Morgan Stanley demonstrated the depth of the dollar market for FIG borrowers this week when it printed a $4.5bn dual tranche transaction. The deal, led by Morgan Stanley and Mitsubishi UFG (the US bank’s largest shareholder), was one of a handful of bank borrowers in dollars this week.
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FIG markets are ready for a flurry of senior unsecured issuance next week, after the recent lull gave participants the opportunity to re-evaluate their strategies and take direction from earnings reports, said bankers.
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FIG bankers are preparing for a flurry of senior unsecured issuance next week, after a two week lull in the market.
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The senior unsecured FIG market is likely to pick up next week as participants take this week to re-evaluate their strategies and take direction from bank results, say bankers.
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United Overseas Bank’s Sydney branch launched and priced the Singaporean lender’s inaugural Australian dollar deal on Wednesday — a A$350m three year FRN that beat market expectations.