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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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Allied Irish Banks was unable to bring in pricing from initial price thoughts on Tuesday. SpareBank 1 SMN appeared to be finding more success with its senior preferred offering. -
Chinese financial leasing firm Far East Horizon (FEH) nabbed $400m from a floating rate note on Monday that required an arduous price discovery process.
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DLR Kredit has become the first bank to convert senior debt that has been contractually subordinated into bonds that are subordinated by law, cementing the insolvency status of its creditors and paving the way for other firms to follow suit.
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Australian insurer QBE has bought back around $100m of green bonds, a rare event for the nascent market.
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Bank of New Zealand has chosen a covered bond as the format for a new deal, after originally announcing it would consider senior unsecured or covereds.
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Svenska Handelsbanken has become the latest bank to open books on its first green bond, as investors showed little sign of running out of thirst for the product.
