Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Deals price tightly to Western European peers, with high-spread Icelandic banks performing the most
Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
FIG borrowers flood dollar markets as Westpac's SEC exit strategy pays off
◆ 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
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UBS launched the first euro senior holdco deal of the year on Thursday and despite the trade’s strong reception and competitive pricing, bankers remain divided over whether more can follow. -
Santander Consumer Finance opened up a new Tokyo Pro-Bond programme worth €10bn on Tuesday, following a similar move from its UK sister borrower last year.
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Mitsubishi UFJ Financial Group successfully wrapped up Asia’s first bond that meets total loss-absorbing capacity (TLAC) requirements on Tuesday. By providing a strong benchmark in this new asset class, the transaction is set to encourage more issuance from Japan.
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Bank of China Hong Kong sneaked in to the bond market on Tuesday with a triple-tranche dollar deal in the midst of several other well flagged competing transactions. But the Chinese lender raised a hefty $2bn, which bankers said proved that it is one of the strongest credits in the region.
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Deutsche Bank tendered some of its euro senior unsecured bonds at spreads through secondary levels on Tuesday, as it sought to lower its debt burden and suppress any fears about its balance sheet.
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European bank DCM activity has had the slowest start in over 20 years, and although some market participants anticipate a turnaround later in the year, financial institutions face pressing challenges to their capital funding plans.
