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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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Bank borrowers looking for senior unsecured funds are shunning the wobbly euro market in favour of sterling issuance. JP Morgan’s £500m six year trade has tightened since pricing on Tuesday, while Crédit Agricole’s 10 year sterling deal is said to be progressing well.
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The euro senior unsecured market claimed its first victim on Tuesday when Banca Popolare di Milano decided to hold back from issuing after mandating a transaction.
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The euro senior unsecured market claimed its first victim on Tuesday when Banca Popolare di Milano decided to hold back from issuing after mandating a transaction.
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JP Morgan is out with pricing levels for a new sterling deal, its first benchmark in the currency since 2007.
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ABN Amro Bank NV broke out of the senior unsecured pattern on Friday, launching a three year fixed rate deal to avoid over-crowding and build its curve, a funding official at the issuer told EuroWeek.
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BNP Paribas tapped the Australian dollar market last Friday for the first time in 2011, with a two tranche A$850m three year deal that sought to get ahead of expectations of a crowded market. BNP Paribas, Commonwealth Bank of Australia and Westpac were the lead managers.