Most recent/Bond comments/Ad
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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Bank of China has priced bonds denominated in US dollars, euros and Australian dollars worth $3bn-equivalent, with another two tranches in New Zealand dollars set to be priced on Wednesday. The deal, sold under different branches of the bank, reflects the relentless bid for floating rate notes (FRNs). -
Berlin Hyp was only just able to attract sufficient demand for a new green senior unsecured trade on Tuesday, while BNP Paribas enjoyed a much stronger reception for a socially responsible deal of its own.
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UBS followed Santander this week by issuing a large senior deal designed to meet loss-absorbing capacity requirements, as both banks look ahead to first quarter results.
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New York Life stole the attention of sterling market investors when it printed its second deal in the currency this week.
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Industrial and Commercial Bank of China raised $1.2bn on Monday from two floating rate notes (FRNs) issued through its Singapore branch, getting ahead of peer Bank of China which kicked off a jumbo Belt and Road-related transaction.
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Two banks spotted an opportunity to line up first-of-a-kind deals on Monday. For one it is set to be its first ever senior bond in euros, and for the other the deal that comes out will be its first rated senior bond.
