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Most recent/Bond comments/Ad
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◆ Shawbrook targets AT1 refi as LV eyes tier two ◆ Deals follow Santander's display of understanding of major UK investors' thinking, says lead ◆ Locks in big size with premium to new euro issuance
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
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European bank funding plans do not account for the redemption of about a quarter of the €740bn they borrowed from the European Central Bank through the targeted longer-term refinancing operations (TLTRO II), according to a report published by the European Banking Authority this week. -
HSBC France and Svenska Handelsbanken avoided issuing senior bonds at negative yields in a busy new issue market on Tuesday, but bankers said it was only a 'matter of time' before someone takes the plunge below 0% with an unsecured deal.
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ING slapped a one year call option on a senior deal from its holding company on Tuesday — a practice that is rapidly becoming the norm for European banks considering how to meet their minimum requirements for own funds and eligible liabilities (MREL).
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Nykredit Realkredit was one of the smallest banks looking to get funding away in a busy euro market on Tuesday, but it was able to command the attention of investors without needing to offer a higher spread.
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Bawag was keen to alert investors on Tuesday to the imminent sale of its first non-preferred senior bond, which is expected to fit neatly alongside a similar deal from its Austrian peer Erste Group.
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China Industrial Securities International Financial Group kick-started the new week for the debt market with a $200m bond on Monday.
