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Most recent/Bond comments/Ad
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◆ 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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South African financial institution FirstRand Bank sold a £30.5m 10 year discounted floating rate note through Rand Merchant Bank on Tuesday.
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The Eu1.5bn floating rate note that ING sold on Monday brings the borrower close to its funding target for the year, the bank’s head of long term funding told EuroWeek.
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Lloyds TSB issued the UK’s largest retail-specific transaction yet on Tuesday, printing a £150m 5-1/2 year trade after cutting back orders in the £175m book.
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Lloyds TSB launched a benchmark 3.5 year Australian dollar deal on Wednesday morning Sydney time, looking to take advantage of favourable market conditions. The deal is also coming on the back of growing interest in issuance from financials since the Australian regulator Apra dealt a blow to Aussie dollar issuance from SSAs at the end of February.
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Russia’s Nomos Bank, the country’s eighth largest, is planning a pre-Easter London and Moscow IPO that will allow one of its large shareholders an exit while giving strategic investors a chance to put more growth capital into the company.
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Risk appetite returned to the senior unsecured market on Wednesday, as Spain’s Banco Santander and Italy’s Intesa Sanpaolo stepped out with transactions despite growing fears that Portugal will be forced to submit to a bailout in the coming days.