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Senior Debt

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◆ Italian banking in 'very interesting place,' lead says ◆ Low NIP ◆ First issue since Monte dei Paschi announced takeover bid
FIG
◆ 'Strong' bid from international and domestic accounts ◆ Priced inside of issuer's target level ◆ Lower NIP than last week's trades
OTP plans first Swissie issue from a Hungarian bank for 16 years
FIG
Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
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  • State Bank of India wrapped up Asia ex-Japan's first dollar bank issuance of the year while navigating a crowded primary market this week, snapping up $500m from a senior five year.
  • Just two months after its last outing, China Huarong Asset Management Co has returned to bond market with a new three year and a senior perpetual.
  • Transport finance specialist DVB Bank profited from strong primary market dynamics by adding a second German senior benchmark to the list of trades printed this week, as syndicate bankers advised taking advantage of market conditions before earnings season begins in earnest.
  • State Bank of India, through its London branch, is selling a new senior dollar bond, getting its funding done before Donald Trump officially taking office on Friday.
  • Deutsche Bank attracted a healthy €3.25bn order book on Monday for the first German senior trade under a revised German Banking Act, as fears began to rise about the potential terms of the UK’s exit from the European Union.
  • BPCE was looking to launch the first ever non-preferred senior bond in the Samurai market this week, as European banks aim to broaden the range of debt securities they offer to yen investors.