Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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◆ Deal printed one day after strong third quarter results ◆ Bond and equity investors seem to show no negative impact from North American tariff war ◆ Issuer focuses on cheaper shorter tranche
The bank is considering bond issuance in currencies other than the euro
Books were €700m for what had been penned as a €750m deal
◆ Swedish bank funds across the capital stack ◆ Latest euro covered bond launched to capture strong demand ◆ One of the tightest deals in three years
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European banks are running out of ways of selling senior bonds at positive yields. A near-miss from Svenska Handelsbanken this week was enough to convince the market that it’s only a matter of time before an issuer breaks the 0% barrier, write Tyler Davies and Frank Jackman.
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Sub-benchmark deals are not so much of a novelty anymore: a trio of rare names filled their boots with diminutive deals this week, with each attracting bumper demand.
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Deal arrangers expect that next week will be the last real window for issuance in 2020, with investors set to close down activity from the middle of December.
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The European Central Bank has warned that some banks face a sharp spike in the cost of their bond funding, as the economic fallout from the coronavirus pandemic begins to translate into credit rating downgrades.
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Close Brothers returned to the public market after a two year absence on Thursday, launching a 10 year sterling deal from its operating company at a very flat level compared to its shorter dated bonds.
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BNP Paribas took advantage of the thirst for duration in the euro bond market on Thursday, offering investors a chance to get hold of long dated non-preferred senior paper.