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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The principle of pari-passu among bondholders lies dead and buried. The Bank of Portugal’s decision to select only five of Novo Banco’s 52 senior bonds for bail-in last week has established a new precedent for bank resolutions, and what a fine mess it has created.
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National Australia Bank (NAB) priced a seven year Swiss franc note this week, making it the first international issuer in the currency for 2016.
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The Bank of Portugal ripped up the resolution rule book for its controversial bail-in of five Novo Banco senior bonds last week, throwing uncertainty on future resolutions and leaving investors to reassess their relationship with Portuguese bank debt, Tyler Davies reports.
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National Australia Bank packed $3.5bn of funding into a multi-tranche deal on Wednesday, taking advantage of strong demand and a heightened risk appetite among US investors.
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FIG bankers are already fearing another window-driven year for FIG issuance after the financial markets’ torrid new year took another turn for the worse on Thursday.
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Westpac NZ launched a sterling senior bond on Wednesday and Santander UK will soon follow with a debut holdco deal, as FIG's first signs of life in 2016 favour the UK market.