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Most recent/Bond comments/Ad
Most recent
◆ Weaker backdrop for FIG issuance ◆ Deal printed with a negligible spread above previous, shorter bond ◆ Nearly triple digit spread lures investors
◆ Rising investor sensitivity due to tight unsecured FIG spreads ◆ Deal centred around real money orders after hitting €4.5bn peak book ◆ Hardly any concession left on shorter tranche, minimal on longer one
Despite the boost in demand, overall unsecured supply still lags behind 2025, with the bulk of recent supply coming in covered bonds
Foreign banks keep Swiss market busy as issuance slows
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Spain’s Banco de Sabadell surpassed expectations with its first visit to the non-preferred senior asset class on Tuesday, tightening 35bp during the pricing process and taking away €1bn of new funding. -
Bank of America sold two tranches of senior debt totalling €2.5bn in the euro market on Tuesday, joining several of its North American peers in obtaining competitive funding costs across the pond.
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Just two Asian borrowers visited the international debt market on Monday, raising nearly a combined $800m ahead of the public holiday on May 1.
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Rabobank sold a 12 year non-preferred senior bond in euros on Monday, the longest dated offering that any bank has tried in a senior format so far this year.
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Canadian Imperial Bank of Commerce (CIBC) opened books on its first bail-inable senior bond in euros on Monday, with four out of Canada’s big six banks having targeted the currency at the end of April.
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China International Capital Corp (CICC) priced a $1bn dual tranche bond transaction with the support of 15 banks on Thursday.
