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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Yorkshire Building Society picked banks to arrange the sale of a new benchmark tier two on Tuesday, as it looked to follow a popular new senior issue from Credit Suisse in the sterling market. -
Belfius Bank this week priced €750m of five year senior non-preferred bonds at 62bp over mid-swaps with the first Belgian deal in the instrument, while Lloyds issued a new senior from its holding company.
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China Minsheng Banking Corp has jumped into the debt market, opening a dual-tranche floating rate offering for dollar investors through its Hong Kong branch on Tuesday.
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Belfius has mandated banks to arrange its first non-preferred senior bond, with market participants expecting further debut deals out of Spain in the coming weeks.
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KEB Hana Bank sold its first dollar Formosa bond and only its second floating rate note post its merger on Thursday, raking in $350m. Ample liquidity in Taiwan and investors’ hunt for offshore assets buoyed the transaction.
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Sun Hung Kai & Co set a personal record this week, selling its largest dollar bond at its lowest coupon as private banks flocked to the unrated Hong Kong financial company.
