Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
Foreign bank issuers secure tight pricings
◆ New deal launched at very similar fair value to previous one from September ◆ Italian bank pays higher NIP than before ◆ Timing a consideration as ceasefire sparks rally
Demand allowed the bank to cut the yield by 35bp
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Deal arrangers think the dollar market will still be the "place to go" for European banks considering short-dated funding after summer, amid uncertainty over the outlook for US rates. -
Bank of China took its pivot away from Libor-linked bonds further this week by selling a dollar note tied to the secured overnight financing rate (Sofr) and a sterling-denominated deal that was the first Sonia-linked bond from a Chinese issuer. While BOC’s transaction was important, bankers say the new benchmarks are still slow to take off in Asia. Morgan Davis reports.
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China Ping An Insurance Overseas (Holdings) found strong support for its $550m 10 year bond, defying initial concerns around volatility in longer tenors.
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UBS was hot on the heels of Credit Suisse with a new issuance in the dollar market this week, as banks spy an opportunity to get funding done in early August.
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Caixa Geral de Depósitos is expecting to issue a new senior deal for the minimum requirements for own funds and eligible liabilities (MREL) in the second half of the year, having been lifted to investment grade by Moody’s last month.
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Barclays has proven the financial institutions bond market is still open for business in early August, after attracting strong demand on Monday for a large euro senior deal.
