Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Despite the boost in demand, overall unsecured supply still lags behind 2025, with the bulk of recent supply coming in covered bonds
Foreign banks keep Swiss market busy as issuance slows
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
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LBBW joined CaixaBank is raising social bond funding in the euro market this week, but the German lender struggled to build up demand and tighten pricing for its €500m deal. -
Permanent TSB raised €300m with its first senior issuance for the minimum requirements for own funds and eligible liabilities (MREL) on Thursday, arriving in the market two weeks after its peer Bank of Ireland had to pull a deal because of Brexit-induced volatility.
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Canadian Imperial Bank of Commerce did not have to pay any premium to investors on Wednesday to launch its first fixed rate senior deal in the sterling market, which has coped well with a mass of supply in recent days.
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Wells Fargo hasn't wasted time in the bond market this week. It launched a euro senior bond on Wednesday, a day after raising sterling debt. Concurrently, Spanish lender Kutxabank was marketing a senior non-preferred bond in euros, its debut in the format.
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China Orient Asset Management Co (Orient AMC) priced an almost 10 times covered dual-tranche bond with strong backing from its lead manager consortium. The borrower went out without a keepwell deed from the onshore entity, but investors were undeterred by the structure.
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Italian banks are taking advantage of excellent new issuance conditions, as investors re-establish their confidence in the country's new government. On Tuesday it was Banca Monte dei Paschi’s turn to do so with a euro-denominated preferred senior bond, one day after UniCredit and Intesa Sanpaolo.
