Most recent/Bond comments/Ad
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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Banque Fédérative du Crédit Mutuel (BFCM) and Group BPCE profited from favourable issuance conditions to bring new senior trades to the euro market this week, though bankers say that borrowers have had to start paying premiums to investors again. -
Issuance of Italian bank debt in 2019 has nearly caught up with last year’s running total. Banca Popolare di Sondrio this week followed Mediobanca and UniCredit into the market to cap off a big week of supply by the nation’s lenders. The run could yet extend further, with UBI Banca gearing up for a debut green bond.
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Indian bonds issuers are racing to the offshore market for cash to beat the country’s financial year-end and the uncertainty of a general election straight afterwards. Morgan Davis and Addison Gong report.
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Italy’s Mediobanca made light work of its return to the senior unsecured market on Tuesday, launching a well subscribed €500m bond with a negative new issue premium, according to a banker on the deal.
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Despite some concerns over the shaky credit backdrop that surfaced last week, BPCE attracted a comfortably oversubscribed order book for its tightly priced €1bn six year senior non-preferred on Tuesday.
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Debt capital market officials are curious to see whether financial institutions bond investors are prepared to welcome deals from rarer and smaller names, after the boom in supply in March.
