Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
US domestic institutions take centre stage after global banks' big funding round
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
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Metro Bank could be forced to overhaul its strategy for growth after agreeing to pay an exorbitant rate on a new senior bond this week, in desperation to meet a looming set of regulatory requirements. Tyler Davies reports. -
Banque Fédérative du Crédit Mutuel returned for its annual visit to the yen market this week to sell its largest ever Samurai.
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Banco Santander hit screens this week to sell its first green bond. The deal attracted orders more than five times its €1bn size.
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The financial institutions bond market has absorbed an enormous volume of supply over the past month, putting a strain on trading levels for outstanding securities. FIG bankers nonetheless expect that spreads could start to tighten once more in the coming weeks, amid a calmer flow of new issuance.
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Swedbank and UniCredit got away with paying small new issue premiums for senior bonds this week, after utilising an extremely favourable backdrop for issuers in the euro market.
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Metro Bank came back to the sterling market on Wednesday to make a second effort at selling non-preferred senior debt, raising the pricing on its offer by 200bp to 9.5%. Market participants suggested the transaction was already a ‘done deal’, but warned that the interest costs would weigh very heavily on the bank’s profit and loss statement.
