Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ 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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Intesa Sanpaolo became the first Italian bank to raise funding during the coronavirus pandemic this week. It offered a healthy premium for its five year senior deal, but the bonds have performed very well in the secondary market. -
Bank of America became the first global commercial bank to print a Covid-19 response bond this week.
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European banks are set to follow sovereign and supranational institutions and begin issuing senior bonds dedicated to fighting Covid-19 under existing ESG frameworks.
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Fitch cut the ratings of four Italian banks this week, triggering underperformance in the market and pushing some non-preferred senior bonds into speculative grade territory.
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Banks are spying new opportunities with green and social bond funding, with the asset classes having outperformed in the credit markets during the coronavirus crisis.
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Euro area banks have increased their reliance on preferred senior funding during the coronavirus crisis, fuelling speculation that some lenders may be expecting a softening of their minimum requirements for own funds and eligible liabilities (MREL).
