Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Swedish bank tightened spread by 28bp ◆ LF Bank opted for the €500m no-grow format ◆ Bonds offered 2bp of new issue premium, an expert said
◆ Greek bank tightened spread by 25bp ◆ One of two green bonds sold on Tuesday ◆ Green label creates 'stickier' order book, says banker
◆ 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
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Commerzbank did not appear hindered by uncertainty around its future in its senior preferred issue on Tuesday, while Nordea picked up green demand for its own offering. Meanwhile, BNP Paribas drove in pricing on its senior non-preferred deal, and ended up turning off some investors altogether. -
NatWest Markets and Crédit Agricole both came to the market on Monday with supply from the safest end of the capital stack. Both deals were heavily subscribed in the face of trade war tensions and uncertainty over Brexit.
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Insurance companies are finally picking up bond issuance after a first quarter that suffered the lowest issuance volumes since 2017. Finnish firm Sampo was the latest issuer this week.
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The market welcomed a dose of investment grade rated corporate and financial supply on Thursday. State-owned enterprise (SOE) Shougang Group saw its bond rally in the aftermarket, while onshore brokerage Huatai Securities and China Ping An Insurance Overseas also managed to price deals tightly.
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HSBC led a surge in dollar bond supply as high-grade banks sprang back into issuance mode after a two-week layoff.
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Hamburg Commercial Bank priced its inaugural public bond on Thursday, a preferred senior deal which seemed to be unaffected by the litigation threat the bank is facing as it attracted €1.2bn of demand.
