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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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Berlin Hyp left some new issue premium on the table for investors on Monday, while Sparebanken Vest Boligkreditt lined up a deal for Tuesday. ANZ New Zealand was also considering covered or senior unsecured issuance. -
Santander Consumer Bank AS sold its first ever five year senior bond in the euro market on Monday, raising €500m of new funding with five times as much in orders in tow.
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A group of more than 100 investors managing nearly $2tr in assets said in a report this week that banks had put up only ‘skin deep’ efforts to capture the risks and opportunities associated with climate change.
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Liquidity in German senior bonds is set to be hit by new rules preventing the use of the bonds as collateral when borrowing from the European Central Bank (ECB).
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ANZ sold what it said was the first issue of a bond aligned to UN Sustainable Development Goals (SDGs) in euros this week, raising €750m of new funding.
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Central banks have been tweaking and improving their stress testing models in recent years. But these schemes are already long overdue using a climate risk scenario.
