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Senior Debt

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Issuance from Turkey aside from the sovereign is down year-on-year, but not by much
Treasury volatility means a fair value estimate was more difficult than usual
◆ Finnish lender's longest senior bond in many years ◆ Issuer chooses lower price over higher size ◆ Deal clears with premium to core Nordic banks
◆ Italian banking in 'very interesting place,' lead says ◆ Low NIP ◆ First issue since Monte dei Paschi announced takeover bid
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  • BNP Paribas has hired a banker from Nomura to join its FIG DCM team.
  • Barclays raised its first sterling senior debt from its holding company on Friday, taking advantage of a spread rally to round off a big push for holdco this week.
  • South Korea’s Nonghyup Bank is looking to reach out to international investors for the first time this year, having hired banks to work on a 144A trade.
  • As Banco Espírito Santo (BES) creditors await compensation after a bridge bank was established to bring forward the collapsed lender’s healthy assets, retail investors are increasingly being granted extra protection in cases of bank failure in Europe.
  • FIG
    UBS brought additional tier one debt back to capital markets for the first time since the UK's EU membership referendum on June 23 this week, as European banks returned en masse to the FIG market.
  • Primary bond activity in Asia sprang back to life on Wednesday following a slow start to the week, with high yield issuance leading the way.