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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UniCredit raised $2bn of senior debt in its first global bond offering for several years, fuelled by stronger sentiment following its €13bn rights issue. -
OP Corporate Bank and Commonwealth Bank of Australia were not overwhelmed with demand for their fixed rate senior deals this week, as absolute spread levels for the product grind tighter and tighter.
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Banco Santander ratcheted in pricing on three tranches of non-preferred senior debt on Tuesday, raising $2.5bn in its first dollar-denominated deal in the format.
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FIG borrowers have wasted little time in bringing opportunistic offerings in front of investors this week, using strong issuance conditions to complete a number of projects ahead of the Easter break.
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The European Central Bank has found ailing Italian duo Banca Popolare di Vicenza and Veneto Banca eligible for ‘precautionary recapitalisations’, shedding further light on the necessary requirements to access public funds and causing a surge in the value of the banks’ senior bonds.
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As part of Novo Banco’s sale process, senior bondholders may be asked to exchange their securities for subordinated bonds at a deep discount to book value.
