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Most recent/Bond comments/Ad
Most recent
Non-US banks continue dollar funding ahead of congested post-Labor Day market
◆ Swiss bank lifts nearly €3bn-equivalent ◆ Long euro tranche lures large demand ◆ Both tranches pay visible premium in 'pragmatic' funding approach
◆ Austrian bank's biggest book for a senior bond in many years ◆ Higher spread than peers, longer marketing helps ◆ Scarcity of Austrian non-preferred debt
Like many senior sukuk from the Gulf, local investors will drive demand
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Industrial and Commercial Bank of China’s Hong Kong branch made a quick return to the floating rate bond market, raising $700m from a dual-tranche outing on Monday. The lender was focusing more on price over size, with its five year proving to be investors’ sweet spot, according to bankers.
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Intesa Sanpaolo has joined other national champions in entering the FIG green bond market for the first time, selling €500m of five year notes with a negative new issue premium.
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Clydesdale Bank was heavily oversubscribed for an eight year non-call seven £300m floating rate note (FRN) on Monday in its first senior deal from its holding company.
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BNP Paribas will look to place a new non-preferred senior bond among regional investors in Germany this week, as it diversifies its investor base for total loss-absorbing capacity (TLAC) eligible debt.
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The European Council has agreed to fast-track work on creating a non-preferred senior asset class, offering hope for those banks that are still looking for a cheaper way of raising their regulatory capital ratios.
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China Reinsurance Finance Corp is looking to tap its 2022 notes issued in March.