Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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The European Central Bank (ECB) has said that bail-inable senior bank bonds cannot count as collateral, as part of changes tightening its eligiblity criteria. This could have a particular effect in Germany, where all senior bank bonds are statutorily subordinated. -
Financial institutions are likely to be cautious about jumping back into the primary market this week, after a recent sell off in equities and credit.
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Lincoln National showed the resilience of the US high-grade as it racked up a bumper order book and enjoyed tight pricing.
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South Korea’s Daegu Bank pulled off a bold $300m bond on Wednesday, choosing to price a deal with a generous new issue premium rather than delay the sale any further.
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ING Groep brought a senior deal from its holding company on Wednesday, undeterred by financial bonds selling off earlier in the week.
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Investors showed their preference for additional tier one (AT1) deals with a short time until their first call dates this week, as they looked to reassess the sector’s value amid a bout of volatility.
