Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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 missed consensus for its first quarter earnings on Thursday, following a €963m legal settlement with the Libyan sovereign wealth fund. But the French bank’s results were otherwise robust, with a particularly strong performance in trading fixed income currencies and commodities. -
Banks are lining up new deals as they exit their blackout periods, hoping to take advantage of super-tight bond spreads and strong investor demand.
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Criteria Caixa was well received on its return to the euro senior unsecured bond market on Wednesday, as Spanish financial institutions capitalise on investors’ confidence in the country’s economic recovery.
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Spain’s Criteria Caixa picked banks to arrange the sale of new senior unsecured bond on Tuesday, having discussed a new debt offering with investors at the end of last year.
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US regional and domestic financial names took centre-stage in the dollar market following the previous week’s funding splurge by Wall Street heavyweights.
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China Minsheng Banking Corp’s Hong Kong branch sealed a $500m three year fixed rate bond on Thursday — the only FIG issuer in Asia DCM on the day. Market participants reckon the spread was too tight when compared to the secondary levels of China’s big four banks.
