Most recent/Bond comments/Ad
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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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Supply of bonds issued by European insurers has been driven by firms merging, demerging and re-orientating, keeping investors and bankers on their toes. Will the conditions persist in 2019? -
Financial institutions have sold more secured bonds in place of unsecured debt in 2018, according to the European Banking Authority. But the watchdog expects that the sector will confront an 'important challenge' next year, when some banks will face pressure to sell riskier securities to meet new loss-absorbing debt requirements.
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In part three of our results announcements, we reveal the winning bond deals across a variety of categories. In addition, we also name the Best G3 Bond House, Best Local Currency Bond House, Best High Yield Bond House and the debut winner of the Best House for SRI Financing.
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Arion Bank said this week that it would look to buy back some of its euro senior bonds as a way of reducing its contributions for the Icelandic banking levy.
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Investors have jumped at the chance to exchange a series of senior bonds issued by Banco IFIS for cash, with the Italian bank coming close to buying back the full €100m on offer.
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Changing emphasis from national regulators could give European banks more incentive to refinance additional tier ones with low common equity tier one triggers in the next couple of years, according to analysts at research house CreditSights.
