Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Borrowers want to issue and spreads are tight, but execution windows are very unreliable
◆ Issuer took advantage of attractive euro funding levels ◆ 'The best quality name you can buy,' lead says ◆ Premium paid
Spreads are back at pre-Iran war levels, but still offer a premium to western Europe
◆ Issuer was looking to come to market from Monday ◆ Lead says order book 'highest quality' seen on recent trade ◆ Low single digit concession
More articles/Ad
More articles/Ad
More articles
-
Bankers away from deal voiced concerns over level of orders -
In a year dominated by the collapse and takeover of Credit Suisse, financial institutions were keen to re‑establish investor confidence in some of the riskier asset classes. Axa led the way just weeks after the CS rescue with a €1bn subordinated bond. In the autumn, UBS made a bold statement about the stability of Swiss bank capital as it returned to AT1 issuance with two $1.75bn tranches. Elsewhere, banks dealt with tricky conditions and pulled off some skilfully timed transactions, underlining the market’s faith in mainstream currencies and emphasising the appeal of ESG labels
-
Rate peak joy soothes angst over Austrian collapse, but losses will surface
-
◆ Rate cut expectations raise appeal of bank debt ◆ NBC and Ally Financial push annual issuance to $593bn ◆ Yankee and US regional banks expected to lift supply in 2024
-
◆ Interest rate expectations power demand for higher yielding bonds, duration in covereds ◆ Synthetic indices tighten to fresh 12-month low ◆ Market in rude health for January issuance
-
◆ ECB repayments to influence banks’ covered and SP issuance ◆ But TLTRO repayments less important than this year ◆ Large pre-funding could mean lighter January supply
