Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
The ratings review finished with both upgrades and downgrades linked to senior bonds now being subordinated to regular deposits
◆ Sentiment improves after ceasefire extended ◆ Handelsbanken nears record tights ◆ Jyske Bank attracts €3.3bn of orders
◆ 48bp over mid-swaps spread for five year SP paper unbeaten since 2020 ◆ Nordic banks first to exit earnings blackouts ◆ New issue premium debated
Bank completes more than half its annual funding before first quarter blackout
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Foreign and domestic banks flocked to the UK this week as they sought to take advantage of stellar funding conditions in the sterling market. Bankers said this was the first chance issuers had to benefit from opportunities in the currency following December’s general election, which removed a lot of short-term uncertainty around Brexit. -
ABN Amro and Deutsche Bank opened books on new senior deals in the sterling bond market, with bankers recognising that the currency is 'working very well' for international names.
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Four issuers landed non-preferred senior deals in the euro market on Thursday, dispelling fears among some syndicate managers that investors’ enthusiasm for the asset class might be beginning to wane.
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ABN Amro made its first ever sale of non-preferred senior debt on Wednesday, as European banks give investors plenty of opportunities in add exposure in the asset class at the beginning of 2020.
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The euro market welcomed as many as nine new unsecured bonds from financial institutions on Tuesday, as the sector made a roaring start to the year. Attention is now turning to secondary market performance, as bankers look to see how the market absorbs the boom in supply.
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DCM officials were encouraged to see investors piling into new non-preferred senior bank bonds on Tuesday, as BBVA, Crédit Agricole and Credit Suisse combined to reopen the market. Borrowers have been willing to offer extra spread to investors at the initial price thoughts stage.
