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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When Crédit Agricole looked long term for a new vanilla senior bond this week, it shed light on the future composition of bank funding structures. As central banks start to close the doors to their funding schemes, financial firms are going to want good access to the liquid markets for both preferred and non-preferred senior bonds alike. -
GlobalCapital understands that RBC Capital Markets has reached into the European FIG talent pool and plucked out an HSBC syndicate banker to join its origination efforts.
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BBVA said this week that it could be in a position to issue its first non-preferred senior bond by the second half of the year, as optimism following the first round of the French presidential election helped create extremely attractive issuance conditions in the FIG market.
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China Huarong Asset Management Co sold a $3.4bn-equivalent six-tranche bond in US dollars and Singapore dollars on April 20. The transaction featured many firsts for the issuer, and was part of its efforts to normalise its debt curve.
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China Southern Power Grid Co, China Minsheng Banking Corp and Hong Kong-listed SOCAM Development started taking bids for their respective dollars bonds on Thursday at the Asia open.
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Coventry Building Society returned to the sterling senior market for the first time since 2010 on Wednesday, capitalising on strong issuance conditions following the first round of the French presidential election.
