Most recent/Bond comments/Ad
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
More articles/Ad
More articles/Ad
More articles
-
Market participants were unfazed by the hung parliament result in the UK election on Friday morning. -
Banco Popular’s tier two bondholders were ‘zeroed’ when the bank was resolved this week, joining the Spanish firm’s additional tier one (AT1) investors in losing all of their money. But Popular’s resolution does not necessarily spell the end for the distinction between ‘going’ and ‘gone’ concern capital.
-
US banks this week took a breather from the torrent of issuance related to meeting total loss-absorbing capacity (TLAC) requirements, preferring instead to hit the market with ineligible, short dated senior unsecured trades.
-
European authorities tested the bank recovery and resolution directive (BRRD) for the first time this week, placing Spain’s Banco Popular into resolution and approving its sale to Santander. The regulatory process, in which subordinated debt was wiped out, has far ranging implications for all market participants working on financial debt, write Tyler Davies, Jasper Cox and Aidan Gregory.
-
Banco Popular’s senior bondholders walked away from this week’s resolution process unharmed, but there is no guarantee this would happen in other resolutions.
-
The resolution and sale of Spain's Banco Popular showed one way in which regulators can deal with a failing bank, but it may prove more difficult to find a solution for struggling banks in Italy.
