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
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No financial issuers came forward as they waited for the US Federal Reserve to publish the results of its Comprehensive Capital Analysis and Review (CCAR) this week. -
Tuesday’s senior issue from AIB Group struggled to get over the line, and sent a message to the market about waning investor demand for all but the safest bonds.
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Raiffeisen Bank International and Svenska Handelsbanken were able to shrug off volatile trading conditions in the euro bond market this week to bring debut offerings of green senior debt.
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Raiffeisen Bank International found healthy interest from investors in its first ever green bond deal on Thursday, as the bank returned to the euro senior market after an absence of just under five years.
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UK asset manager Winterbrook Capital has gone public with a claim that events of default have occurred on Novo Banco senior notes, on the week in which the bank is attempting to sell a tier two bond and tender old senior bonds.
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China Huarong Asset Management Co focused on getting a sensible price rather than a large size with its Tuesday bond issue, raising $1.1bn from three tranches. The deal followed a probe of its former chairman earlier this year, as well as a general widening of bonds from the sector.
