Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Italian banking in 'very interesting place,' lead says ◆ Low NIP ◆ First issue since Monte dei Paschi announced takeover bid
◆ '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
Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
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Rather than waiting for the final go-ahead from the authorities, European banks are becoming creative with their bonds in order to bring total loss-absorbing capacity (TLAC) issuance.
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Santander has added its name to the list of European banks issuing senior non-preferred bonds this week, even though Spanish law cannot yet accommodate the new asset class. -
Bank of Cyprus raised £250m in its first new-style tier two transaction on Thursday, showing the market was ready to receive further capital trades before blackouts set in.
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Taikang Insurance Group had no problem finding demand for its debut, gathering $2.4bn worth of orders at its peak for a $800m bond on Wednesday. The deal is only the second from a Chinese name and the first from a financial credit in Asia ex-Japan in the New Year.
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BPCE has filed documentation allowing it to issue total-loss absorbing capacity (TLAC) eligible senior bonds in the Samurai market, and the first ever yen-denominated non-preferred issue could arrive as early as next week.
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Sumitomo Mitsui Financial Group (SMFG) was looking to sell a five year bond from its holding company on Wednesday, remaining the only Japanese ‘mega bank’ to look to euros for its total loss-absorbing capacity (TLAC) requirements.
