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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Investors are now largely on board with the effective subordination of senior unsecured bonds, with accounts all too happy to fuel the rapid growth of the non-preferred senior debt market in 2017. But discord in the way the new forms of bail-inable debt are treated by index providers casts a bright light on a market that is still in flux, writes Tyler Davies. -
JP Morgan smashed through $15bn of year-to-date TLAC issuance this week as a trio of banks hit the dollar market, ahead of a brief break for Memorial Day holiday.
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The Basel Committee’s William Coen said in a speech on Thursday that he was hopeful that the Basel III post-crisis reforms could be finalised in the ‘near future’, but capital markets participants have grown weary of hearing that progress is just around the corner. They still expect to be waiting for quite some time before any agreement on calibrating capital floors.
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South Korea’s Kookmin Bank is marketing a new five year floating rate dollar transaction, set to be listed in both Taipei and Singapore.
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NN Group, the Dutch insurance firm, was looking to raise €900m of senior bond funding in the primary market on Wednesday, in a bid to fund its merger with fellow Dutch insurer Delta Lloyd.
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Nykredit Realkredit paid a slim premium for a smaller €300m senior resolution note on Wednesday, printing its first floating rate deal in the format.
