Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
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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La Banque Postale was able to tighten pricing by over 10bp from initial price thoughts as it became the latest French name to issue in the senior non-preferred asset class. -
Sumitomo Mitsui Financial Group (SMFG) came to the market with a seven year senior unsecured bond on Wednesday to finance green projects, with Mizuho still in the pipeline for a green deal of its own.
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Iccrea Banca sold its second euro senior deal of 2017 on Wednesday, with Italian banks piling back into the primary market and eclipsing last year’s issuance volumes.
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Finland’s Aktia Bank sold a sub-benchmark three year floating rate deal on Wednesday, attracting attention despite competition from five other financial institutions in the euro market.
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Though the European Central Bank’s October 26 meeting has been very well talked about as the point at which it could start to step back from buying bonds, FIG investors remain focused on other issues.
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French banks have been frequenting the Samurai market all year, and the latest trade from Banque Fédérative du Crédit Mutuel (BFCM) this week offered Japanese accounts a rare chance to invest in the senior preferred format.
