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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Financial institutions took a step back from the primary market on Thursday, as a resurgence in US political risk helped stunt an impressive rally and push credit spreads wider. -
Industrial and Commercial Bank of China (ICBC) Dubai sold a dual tranche $700m floating rate deal on Monday, followed by a €500m floater on Wednesday.
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AIG picked banks for the sale of a long dated senior bond on Thursday, as US financial institutions eyed favourable funding costs in the European market.
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China Citic Bank International is coming to the Panda bond market for the first time. The Hong Kong-based lender is hoping to raise Rmb3bn ($437m) with a three year bond, which will be the first Panda issued by a financial institution this year, according to GlobalRMB data.
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Commerzbank and KBC were looking to sell new senior unsecured bonds in a less enthusiastic primary market on Wednesday, after banks credit spreads started widening following the recent mass of supply.
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Bank treasury departments have spied a golden opportunity to make headway on the riskiest parts of their funding strategies this week, but bankers are keeping their eyes peeled for sign that the mountain of supply is pushing bond spreads wider in secondary.
