Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
US bank eyes one of the tightest US preferred resets as BBVA goes for subordinated, senior combo
◆ 'Real money' order book supports €1bn size ◆ 'Not much' delta between Nordic names, lead says ◆ Up to 5bp of concession
◆ Small premium left for investors ◆ Final yield close to 4% 'inflection point' ◆ Rabo adds to senior green rush
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Société Générale has become the third bank to sell a five year non-preferred senior bond in floating rate format this week, but the French bank was unable to replicate the earlier successes of BBVA and Crédit Agricole. -
The case for investing in Italy’s banks is unlikely to be radically altered by the outcome of the country’s general election on Sunday, March 4, according to some FIG bond buyers.
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Orders peaked at more than €3.4bn for BBVA’s five year non-preferred senior deal on Tuesday, with floating rate notes starting to prove popular among both investors and issuers.
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Royal Bank of Scotland was in the market selling €4.75bn of debt across three tranches from its holding company and operating company on Tuesday, putting a large dent in its recently updated funding targets.
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Bank of China, Industrial and Commercial Bank of China and Industrial Bank Co have raised close to $3.7bn from eight fixed and floating rate tranches in three currencies. But most of the portions had to offer a new issue premium, which ranged from a few basis points to as much as 15bp.
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South Korea’s Hyundai Capital Services was confident of finding support in a busy bond market on Monday, sealing $500m from an opportunistic trade that was launched without a roadshow.
