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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The European Commission and the Italian government have reached an agreement in principle to grant Monte dei Paschi di Siena (MPS) a “precautionary recapitalisation”, clearing the way for the Italian government to inject public funds into the troubled Italian bank. -
UBS plundered the short end of the curve this week with a $5bn trade from its operating company, pushing the levels of bank and financial issuance further beyond recently set records.
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Investor appetite for yield and renewed confidence in the Nigerian financial sector helped United Bank for Africa (UBA) size an inaugural dollar bond at the top end of the target range on Thursday.
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Strong demand for floating rate paper helped BNP Paribas take home a longer dated than usual non-preferred note this week, while Royal Bank of Scotland’s rare operating company FRN had a similarly warm welcome.
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Soon, banks will have more TLAC and MREL than equity. The new bond classes are a immensely important part of the financial structure of a bank, but the risks to investors aren’t yet clear. Just how will this alien new instrument class behave — or misbehave?
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Investors put more than €2.25bn of orders into a rare operating company level senior bond from Royal Bank of Scotland on Thursday, as floating rate bonds appear as a "more attractive option" for an increasing numbers of issuers, according to bankers.
