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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Société Générale sold €1bn of seven year non-preferred senior floating rate notes on Friday, in a trade that could spark a trend for longer dated FRN issuance. -
One of Asia’s most frequent borrowers BOC Aviation has mandated six firms for a dollar-denominated Reg S outing, with roadshow set to take place early next week.
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Citigroup, State Street and Bank of New York tapped the market as the callable bandwagon rolled on and banks continued to boost their regulatory capital buffers.
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Dutch insurance firm Vivat will use the proceeds from its new €650m senior bond to pump restricted tier one capital into one of its subsidiaries. Investors demanded a premium for the intra-firm financing. But the structure could curry favour with regulators under Solvency II, and may open opportunities for other insurers looking to optimise their capital structures.
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European banks piled back into the bond market this week following Emmanuel Macron’s victory in the French election and as reporting season passed its busiest point. Borrowers were looking to issue capital amid attractive funding conditions for senior paper eligible for total loss-absorbing capacity (TLAC).
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JP Morgan and Santander jumped on strong funding conditions in the euro market to add to their stock of bail-inable senior bonds on Thursday, after Royal Bank of Scotland was met with a blowout reception for a Yankee offering.
