Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ HSBC brings €3.25bn of funding across three tranches ◆ Lloyds opts for €750m single tranche before UK local elections ◆ Heavy euro FIG issuance as possible Iran deal announced
◆ UK bank uses the first issuance window after earnings, central bank meetings and holidays ◆ Deal coincides with busy euro credit market ◆ Barclays attracts attention with relevant new issue concession
◆ Dutch bank goes 'head to head' with Alphabet in euros ◆ Brings its longest ever opco tranche ◆ Book skewed towards two year FRN
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
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Kookmin Bank opted for an unusual three year bond this week to diversify its funding avenues. The bond found strong interest from offshore accounts eager to get their hands on the new deal, allowing the lender to price inside fair value. -
South Korea’s Kookmin Bank and Indian’s Glenmark Pharmaceuticals ventured out to the dollar debt market on Monday with their respective bonds.
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US banks coming out of earnings blackouts provided all the fare in FIG this week, and deals flew to investors who have seen almost no paper since mid-June.
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The first sterling senior unsecured FIG deals to hit the market since the Brexit vote brought in astonishing demand, first for a blockbuster £1bn trade from Wells Fargo, followed by a bond from Bank of America Merrill Lynch that brought total sterling issuance to £1.75bn on the week.
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Wells Fargo (A/A2/A-) offered two Australian dollar deals to the market this week, totalling A$1.65bn ($1.24bn).
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CDB Capital, a wholly-owned subsidiary of China Development Bank Corp, has mandated banks to arrange a roadshow from Friday for a Reg S only dollar trade.
