Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Greek bank's first deal of the year ◆ Issuer took advantage of an empty market ◆ Priced with 5bp-7bp of new issue concession
Concessions have tightened for both capital and senior trades, as technical conditions favour FIG issuers
◆ Simultaneous execution with Alphabet's record deal bodes well for others ◆ More FIG names likely to print in near future ◆ Other European banks diversify funding in Singaporean and Australian dollars
Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates
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◆ Fair value debated ◆ Some question RV attractiveness to global investors ◆ Dollars main funding market ‘for now’ -
◆ New senior FIG deals print with mid-single digit concessions... ◆... though Belfius offers more for its largest non-preferred funding since 2020 ◆ M&A target Monte dei Paschi prints year's first deal
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The bank left the book open longer than planned due to problems with Bloomberg
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◆ Japanese bank returns to euro market after many years ◆ Global asset managers reducing US dollar exposure ◆ Euro issuers facing increased competition
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Deals across asset classes are back on track after unusual marketing extension
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◆ New deals land close to, if not at, fair value ◆ Book attrition visible amid competing corporate supply ◆ Seemingly no rivalry between senior FIG deals
