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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Bank of China launched its multi-currency, multi-tranche transaction on Tuesday morning, as Citic Securities also opened books for two tranches of dollar notes.
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Nationwide Building Society got a “better than expected” result for a €750m fixed rate six year senior unsecured deal which it issued on Monday.
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Intesa Sanpaolo issued a €1.5bn five year floating rate note on Monday following a successful deal in the format for BBVA last week and also paid close to no new issue premium.
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Bank of China, CCB Life Insurance and Citic Securities kicked off investor meetings and calls this week, in pursuit of Reg S deals.
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Spain’s BBVA paid next to no new issue premium for €1.5bn of new funding this week, picking its moment to return to a very healthy market for floating rate notes.
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Moody’s has downgraded Novo Banco’s long-term senior debt ratings, with the ratings agency describing the Portuguese bank’s proposed liability management exercise as a ‘distressed exchange’.