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Most recent/Bond comments/Ad
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◆ 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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German bank senior preferred credit default swaps (CDS) will begin trading from May 13, after changes in German national law in 2018 that created a way for banks to issue senior preferred debt. -
JP Morgan injected some life into the FIG dollar bond market with a $2.5bn trade this week, after US banks and financial names delivered another moribund month of supply.
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Euro investors have become more receptive to UK bank debt this year, leading to a blowout reception for a covered bond from Yorkshire Building Society this week. But issuers are yet to break a long period of silence in sales of unsecured products, mindful as they are of a Brexit hangover in the euro market.
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Hamburg Commercial Bank is set to meet with investors from May 6 to explore the possibility of selling its first ever preferred senior bond in euros. Onlooking bankers expect a positive reception for the German lender, which used to be known as HSH Nordbank.
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Royal Bank of Scotland Group was marketing a long-dated senior bond in the dollar market on Thursday, copying Barclay’s choice of currency with its first deal after results.
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Barclays has wasted little time in accessing the debt markets after publishing first quarter results, selling senior bonds out of its holding company in both dollars and sterling this week.
