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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Virgin Money secured its first foothold in the euro market on Wednesday, selling €500m of senior debt from its holding company as part of a deal that had been initially been postponed because of Covid-19 concerns. -
Lloyds Bank Corporate Markets seized the opportunity to raise senior funding in sterling on Tuesday, with the market back in 'extremely good shape' after several days of volatility. It is expected to be followed in the currency by Legal & General Group and Virgin Money, which have each announced strategic transactions this week.
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The Single Resolution Board is asking for new data from banks on their key metrics as of the end of June, with an eye to using the information to tweak their minimum requirements for own funds and eligible liabilities for 2020.
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Sentiment is deteriorating in the financial institutions bond market amid fears of a second wave of coronavirus infections. Issuers are now expected to take a back seat until credit spreads show more signs of stability.
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UniCredit jumped into the euro market to raise senior funding at a pricing level it found much more familiar than recent elevated levels this week, while BPER Banca gave investors their first chance in several months to buy a new issue from a second tier Italian bank.
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Conditions in the financial institutions bond market worsened this week but plenty of senior and subordinated bonds still got away. With credit spreads unpredictable, the supply outlook remains favourable, said bankers.
