Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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
More articles/Ad
More articles/Ad
More articles
-
Canadian Imperial Bank of Commerce (CIBC) has become the last big Canadian bank to hit the dollar market with a deal to comply with the country’s new bail-in regime. -
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.
-
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.
-
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.
-
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.
