Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
US bank eyes one of the tightest US preferred resets as BBVA goes for subordinated, senior combo
◆ 'Real money' order book supports €1bn size ◆ 'Not much' delta between Nordic names, lead says ◆ Up to 5bp of concession
◆ Small premium left for investors ◆ Final yield close to 4% 'inflection point' ◆ Rabo adds to senior green rush
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Investors greeted Crédit Agricole’s market opening senior non-preferred trade with more than €5bn of orders on Tuesday, allowing the issuer to bring pricing closer to its vanilla senior curve. Société Générale quickly showed it wanted to be next in line, in what is shaping up as an encouraging start for the new asset class. -
Shandong Ruyi Technology Group and LR Capital Group are marketing their respective dollar transactions, ahead of a two-day Federal Open Market Committee meeting starting Wednesday.
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Crédit Agricole looks set to issue its first ever senior non-preferred bond this month, after Sapin II was finally passed into French law on December 11.
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Crédit Agricole announced a mandate for the first ever senior non-preferred bond on Thursday, in a move that confirmed French banks are very keen to start issuing in the format.
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Goldman Sachs printed a $3bn trade on Thursday to push dollar FIG issuance to an all-time high.
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Lloyds has become the third UK bank to soak up strong demand for holding company level senior debt in the Samurai market this year, though the lack of clarity around risk-weightings continues to limit bank treasury involvement.
