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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Danske Bank is waiting until activist investor Bill Browder gives a press conference before deciding whether to proceed with the sale of a senior non-preferred bond. News of the conference derailed the deal on Wednesday, after final terms and a $3bn size had already been set. -
CaixaBank was testing the strength of appetite for riskier debt instruments in the euro market on Thursday, bringing the lowest rated deal from bank so far this year.
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Danske Bank offered its senior non-preferred bond to dollar investors on Wednesday, after UniCredit raised $3bn in the format the day before.
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Crédit Agricole paid a small premium to investors to launch a new short-dated floating rate note on Wednesday, adding to a flurry of senior trades from French banks at the start of the year.
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Around half of EU banks see pricing as a major constraint for issuing subordinated debt counting towards their minimum requirements for own funds and eligible liabilities (MREL), while analysts think funding costs will increase for capital instruments across the board, according to a survey released by the European Banking Authority this week.
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After a near two year absence from the market, Allianz SE opened books on a new senior deal on Tuesday to kick off the supply of insurance debt in 2019.
