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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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Banco BPM sold €500m of senior bonds with a 'modest' new issue premium on Monday, against an uncertain political backdrop in Italy after parties prolonged talks to form a new government. -
UBS was warmly received for a new senior deal from its operating company on Monday, as credit markets showed a bit of resilience following a period of heightened volatility.
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Financial institutions piled into the euro market with green bonds this week, but the contrasting fortunes of each of the new deals raised a number of questions about whether or not green was still the safest game in town, writes Tyler Davies.
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Canadian banks and pension funds led a rush of Yankee issuance this week, as they jumped at the chance to tap the dollar market while US banks remained on the sidelines in the run-up to first quarter earnings season.
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UBS nipped into the market ahead of the blackout period by issuing a jumbo-sized bond from its holding company on Tuesday.
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Investors bought a combined $4.23bn equivalent of debt from Banco Santander and CaixaBank this week after S&P raised its ratings for both banks last Friday.
