Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Observers blame slower bookbuilding on deal-specific factors but others see warning shots for whole market
Late Labor Day this year and mid-September FOMC will constrain September issuance window
◆ Greek bank's first issuance of the year ◆ Tenor and IPTs attracted domestic and international demand ◆ Deal praised for its strong execution
◆ Euro deal comes swiftly after sterling appearance ◆ Issuer rarity aids both deals' success ◆ Euro leg losses chunk of orders but ends with similar book to earlier European bank deals
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Spanish banks are using strong market conditions to their advantage towards the start of November, with Banco de Sabadell completing its annual funding plans this week and UniCaja Banco getting ready to launch its debut tier two transaction. -
Australia & New Zealand Banking Group (ANZ) is getting ready to offer FIG investors a very rare chance to purchase green bank capital in euros, with the issuer set to hit the road for a new tier two in November.
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Portuguese banks are preparing to build towards their minimum requirements for own funds and eligible liabilities (MREL), having been lifted by an encouraging year in terms of non-performing loan disposals and by a strong performance in the domestic economy.
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Banco de Sabadell completed its annual funding plan on Tuesday with a €500m preferred senior bond, adding a call option to the transaction in a clear sign that it is likely to be used as part of the minimum requirement for own funds and eligible liabilities (MREL).
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Berlin Hyp on Monday launched its first preferred senior bond in green format. The German issuer chose a 10 year maturity and quickly attracted orders, supported by an investor community that follows the bank’s frequent green issuance.
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Fitch is forecasting a negative outlook for the issuer ratings of some of the largest lenders in the Netherlands, warning that the early introduction of a risk-weight floor for mortgage assets could weigh on the country’s banking sector through additional capital demands.
