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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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MUFG (Mitsubishi UFJ Financial Group) has hired a senior banker from BNP Paribas to front its EMEA insurance team.
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The Cover and GlobalCapital held the annual Covered Bond Awards Dinner on Thursday night at Casa Llotja de Mar in Barcelona, celebrating the best performers in the market. -
European banks have spent the better part of the last few years toiling away to raise loss-absorbing debt for new capital standards. But with many of the biggest firms closing in on their requirements, an attractive window has opened up in the primary market allowing a host of smaller names to print rare and first-time trades.
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Bank of America led a flurry of issuance from big-name financials which defied predictions by tapping the dollar market in advance of third quarter results to get ahead of next week’s Federal Open Market Committee meeting.
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Bank of Ireland got Irish banks off the mark with meeting their targets for minimum requirement for own funds and eligible liabilities (MREL) this week, selling its first trade from its holding company into a strong pool of demand.
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Bank of America helped to cap off a busy week of new FIG supply, as banks found a window to return to the primary market following the summer break.
