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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UK and Irish investors took the market by surprise hoovering up over 40% of Crédit Agricole’s market opening senior non-preferred trade this week, though French accounts took the bulk of Société Générale’s follow-up deal. -
The European Banking Authority published its final report on the design and implementation of the minimum requirement for own funds and eligible liabilities (MREL) this week, drastically reducing its prediction of how much debt banks will have to raise
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Investors plugged another €3.5bn into the second ever senior non-preferred bond from Société Générale this week, in an early sign the market will be able to digest the large quantities expected from French banks next year.
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French banks have wasted no time since receiving legal confirmation they could issue senior non-preferred bonds, with two financial institution delving into strong investor demand for the new asset class in as many days.
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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.
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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.
