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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National Australia Bank issued €2bn of new senior conventional and green notes on Wednesday with a simultaneous tender for existing short-dated debt that could inspire other banks in the euro market looking to make their maturity profiles more efficient. -
Berlin Hyp, Commerzbank and Deutsche Bank used this week’s supply window to launch the first three preferred senior deals out of Germany, which has only just legislated for issuance in the asset class.
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Belfius told investors on Thursday to expect a €500m deal size for its new five year senior bond, one of eight such deals in the euro market this week.
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Deutsche Bank opened books on its first ever preferred senior deal on Thursday, joining Berlin Hyp and Commerzbank in christening the product this week.
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On Thursday Intesa Sanpaolo become the first Italian bank to issue an unsecured bond since April, but it paid up to do so. It has led the way for the country’s banks in terms of issuance this year, having already printed both the first unsecured bond and the first covered bond since the general election.
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National Australia Bank found demand for €2bn of new senior notes on Wednesday, at the same time as offering to buy back €750m of old debt.
