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
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FIG market participants expect public holidays, a European Central Bank meeting and an election in the UK to restrict supply in the market this week, with the UK vote giving some bankers a late scare. -
Mainland banks continue to be active in the floating rate bond market, with China Merchants Bank Co looking to sell its inaugural dollar FRN on Monday.
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Crédit Agricole sold the largest ever Samurai bond from a European bank on Friday, raising a sizeable ¥203.9bn ($1.8bn) of debt across five tranches.
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DBS Group sold its first senior unsecured bond in three years on Thursday, sealing a floating rate 2020 at a record tight spread for any Asia ex-Japan bank so far this year.
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UniCredit mandated banks to arrange its return to the dollar market in tier two this week, as the Italian bank considers a global approach to tackling its regulatory capital requirements.
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The European Commission and the Italian government have reached an agreement in principle to grant Monte dei Paschi di Siena (MPS) a “precautionary recapitalisation”, clearing the way for the Italian government to inject public funds into the troubled Italian bank.
