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Most recent
Like many senior sukuk from the Gulf, local investors will drive demand
◆ 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
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Norway’s DNB Bank on Tuesday broke a record for the tightest pricing in preferred senior format so far this year, finding strong demand for a new transaction, despite market concerns about money laundering among Nordic financial institutions. -
MetLife closed a funding agreement-backed (FAB) deal on Tuesday — its first euro bond offering since January 2015. The deal was more than three times subscribed, showing that investors are eager to diversify their portfolios into euro insurance paper.
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Blowout books helped NIBC Bank crank in the pricing by 50bp for its first ever non-preferred senior transaction on Tuesday, with the Dutch lender eyeing a ratings upgrade as a result of its work to build out a stack of debt for the minimum requirement for own funds and eligible liabilities (MREL).
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ING Bank started the new quarter with supply from its operating company on Monday, giving investors a rare chance to buy paper in floating rate format. It quickly followed with a holding company level deal from its opco.
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Chinese issuers have become too focused on Hong Kong when marketing their dollar bonds, panelists at Euromoney's China Debt Capital Markets Summit said last week.
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Bank of Baroda returned to the market on Thursday to sell its first dollar deal in nearly five years. The bank, acting through its London Branch, raised $800m in a sale that came just days before its expected merger with Vijaya Bank and Dena Bank.
