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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JP Morgan smashed through $15bn of year-to-date TLAC issuance this week as a trio of banks hit the dollar market, ahead of a brief break for Memorial Day holiday. -
The Basel Committee’s William Coen said in a speech on Thursday that he was hopeful that the Basel III post-crisis reforms could be finalised in the ‘near future’, but capital markets participants have grown weary of hearing that progress is just around the corner. They still expect to be waiting for quite some time before any agreement on calibrating capital floors.
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South Korea’s Kookmin Bank is marketing a new five year floating rate dollar transaction, set to be listed in both Taipei and Singapore.
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NN Group, the Dutch insurance firm, was looking to raise €900m of senior bond funding in the primary market on Wednesday, in a bid to fund its merger with fellow Dutch insurer Delta Lloyd.
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Nykredit Realkredit paid a slim premium for a smaller €300m senior resolution note on Wednesday, printing its first floating rate deal in the format.
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China Construction Bank sold its first floating rate bond in 20 years this week, pricing in line with its peers while also printing one of the largest deals since 2014. Its rarity value and a quiet primary market worked in its favour.
