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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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UK banks have surfaced in the unsecured debt markets for the first time in about four months, buoyed by optimism about a series of crucial votes on Brexit in parliament next week. Experts suggest that the country’s financial institutions will have to get used to these sorts of narrow issuance windows, with the country yet to even start the most challenging stages of its exit from the European Union.
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Intesa Sanpaolo is set to return to Japan to sell a second series of securities in the Tokyo Pro-Bond market, after opening the market for the first time for Italian issuers in February 2018.
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Bank of China paid a visit to the euro bond market on Wednesday, raising €500m through its Paris branch. It was just the latest Chinese financial institution to fund in the currency.
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Deutsche Pfandbriefbank on Wednesday tapped a senior bond sold in January at a spread that was 8bp tighter than the original re-offer level. It appeared in a busy market, with New Zealand’s ASB Finance also selling senior debt in the euro market.
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Banque Fédérative du Crédit Mutuel looked to the long end with its first non-preferred senior bond on Wednesday, following the example Crédit Agricole set late last month.
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A group of investors has published a letter urging HSBC to pull away from financing the coal industry, warning that these activities will leave the bank dangerously exposed to climate-related financial risks.