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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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Raiffeisen Landesbank Oberösterreich (RLB OÖ) is set to issue its first ever unsecured bond. -
Swedbank is the latest issuer to unveil a green bond framework, with a roadshow for the first deal to take place between Wednesday and Friday next week.
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Issuers are finding new valuations for their bonds in the financial institutions bond market this autumn, with strong issuance conditions helping to drag spreads tighter and tighter.
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US and non-US issuers entered the dollar bond market in a busy week, including Banco Santander, which continued its US charm offensive with a $2.5bn three-part trade.
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The European Banking Authority (EBA) has warned banks in Europe that any debt they issue under English law may cease to count towards the minimum requirement for own funds and eligible liabilities (MREL) as soon as the UK leaves the European Union.
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Belfius Bank opened books on a second non-preferred senior deal on Thursday, setting a final spread inside where it priced its debut — a shorter dated deal — just six weeks earlier.
