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◆ Austrian lender's first bond issue of the year ◆ Achieves investor diversification beyond core buyers in DACH, says lead ◆ Moves pricing more than most of its past senior trades
The spread to the sovereign was well over 100bp at initial pricing
◆ Both issuers out with similar deals on a busy day in primary market ◆ Demand flows to credit as investors show preference for higher yielding names ◆ Nykredit ends with bigger book due to wider spread
The bank is capitalising on an investor base starved of CEE bank issuance
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DNB Bank has become the latest European name to tap the Japanese market, ending a seven year absence with a semi-private club deal.
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Yankee borrowers found swift execution and deep liquidity as they peppered the dollar market this week, with ABN Amro and Svenska Handelsbanken each printing debut non-preferred senior trades in the currency.
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Bank of Communications Financial Leasing Co used a sustainability label for its new $500m three year bond.
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Investors had plenty of appetite for a super-high yielding additional tier one from Piraeus Bank this week. Will they still be hungry when Greek banks try and issue large volumes of senior debt for their regulatory requirements?
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Equitable Financial Life brought its first funding agreement-backed (FAB) deal in euros on Thursday, paying up slightly to access the currency after a very busy funding run in dollars.
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Banks have already printed more green bonds this year than they sold in the whole of 2020 and the momentum in issuance is showing no sign of slowing. Borrowers are increasingly interested in labelling subordinated debt, amid growing evidence that such products can offer even more pricing power.