Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Bank completes more than half its annual funding before first quarter blackout
The bank is offering over 100bp of premium to the Kazakh sovereign
The bank is the largest in the country and a close proxy for investors to the government
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Bank bond spreads widened further on Thursday amid growing numbers of infections in Europe and the US. Deal arrangers say that issuers will need to be more careful about choosing the right issuance window as markets remain choppy. -
Skipton Building Society announced on Wednesday that it was looking to buy back one of its senior bonds. The tender offer will give investors a premium over secondary market and help the issuer optimise its liability base.
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Royal Bank of Scotland and ING were set on Wednesday to add to a recent run of dollar bond issuance from European banks, with some issuers having clocked up huge savings in the currency versus what their home markets can offer.
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Sino-Ocean Capital, an alternative investment and asset management business, leaned on its parent company Sino-Ocean Group Holdings to sell its first public dollar bond on Tuesday. But not every investor took comfort from the parent’s backing.
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BBVA is the latest large European bank to have suffered a ratings downgrade during the Covid-19 pandemic, with Fitch having moved the issuer’s debt ratings down by a notch blaming a weaker operating environment in Mexico and Spain.
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Recent share price movements imply that a third of the loans under moratoria at Italian banks could end up as unlikely to pay (UTP) exposures, according to analysts at Equita, an investment bank, who expect that the true figure could be closer to 10%.
