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
-
The Export-Import Bank of China (Chexim) is set to hold investor calls for a euro fixed rate five year bond and a dollar floating rate three year. India’s Canara Bank, meanwhile, will meet accounts in Asia and Europe for its first dollar outing since 2013. -
DBS Group Holdings is preparing its comeback to the international bond market, having mandated leads for a senior outing denominated in dollars.
-
Landesbank Baden-Württemberg (LBBW) made a rare entry into the senior unsecured market on Tuesday, picking up €1bn of new five year funding on the back of strong levels of domestic support.
-
France’s Crédit Agricole was looking to sell non-preferred senior notes in yen this week, following closely behind a similar deal from its compatriot Société Générale.
-
There are few barriers and obvious incentives to entering the non-preferred senior market. Smaller European banks should join the party.
-
Investors are now largely on board with the effective subordination of senior unsecured bonds, with accounts all too happy to fuel the rapid growth of the non-preferred senior debt market in 2017. But discord in the way the new forms of bail-inable debt are treated by index providers casts a bright light on a market that is still in flux, writes Tyler Davies.
