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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BNP Paribas sold a seven year non-preferred issue on Tuesday, in the first ever total loss-absorbing capacity (TLAC) bond transaction aimed at regional investors. -
Industrial and Commercial Bank of China’s Hong Kong branch made a quick return to the floating rate bond market, raising $700m from a dual-tranche outing on Monday. The lender was focusing more on price over size, with its five year proving to be investors’ sweet spot, according to bankers.
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Intesa Sanpaolo has joined other national champions in entering the FIG green bond market for the first time, selling €500m of five year notes with a negative new issue premium.
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Clydesdale Bank was heavily oversubscribed for an eight year non-call seven £300m floating rate note (FRN) on Monday in its first senior deal from its holding company.
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BNP Paribas will look to place a new non-preferred senior bond among regional investors in Germany this week, as it diversifies its investor base for total loss-absorbing capacity (TLAC) eligible debt.
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The European Council has agreed to fast-track work on creating a non-preferred senior asset class, offering hope for those banks that are still looking for a cheaper way of raising their regulatory capital ratios.
