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Most recent/Bond comments/Ad
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Very few, if any, Gulf issuers are looking at sterling bonds
◆ €3.25bn of new issuance comes as Goldman Sachs brings €7bn across four tranches ◆ 'Surprise' as two US names proice on same day ◆ Positive concession might force European banks to pay more next week
◆ More than €20bn of orders at peak ◆ Up to 10bp of concession on each tranche, says rival banker ◆ May push European banks to pay more to get deals done
◆ €500m 4NC3 EuGB deal priced inside fair value ◆ Greenium helps tighten spreads amid strong demand ◆ Landmark trade cements bank's ESG leadership, says treasurer
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Banca Monte dei Paschi di Siena’s capital instruments are at risk of being zeroed after UniCredit announced this week that it could buy the state-owned Italian lender on extremely favourable terms. Market participants are more optimistic on Monte’s senior debt, which would rally strongly if included in a merger. -
The US Federal Reserve moved one step closer this week to signalling it will start to end its quantitative easing measures. FIG borrowers now face a nervous wait for the central bank’s next communication in late August, which will define the strength of market conditions ahead of a crucial issuance window in September.
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Sustainable bond volumes are tipped to top $850bn this year after a record first half, despite the pricing benefit versus conventional debt all but evaporating in recent months.
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Novo Banco has repurchased about €260m more debt than it set out for with a tender offer this month, as it looks to reshape its funding structure towards the minimum requirements for own funds and eligible liabilities (MREL).
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Lloyds Bank has formulated a succession plan to prepare for the departure of Allen Appen, its head of bond financing, as another senior figure prepares to leave its debt capital markets group.
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Market participants expect the Federal Reserve could address the topic of tapering at its meeting later today; however, the spread of the Delta variant may cause the central bank to put any talk on hold until its Jackson Hole Symposium next month.
