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Senior Debt

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Hungary's change of government is still drawing in investors despite a difficult summer
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
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  • Hong Kong-based Chong Hing Bank (CHB) is marketing its debut Panda bond of up to Rmb1.5bn ($231m) and is aiming to price the deal this month, several sources close to the deal have told GlobalRMB.
  • FIG
    A number of UK banks are expected to tender for opco debt in the coming months, following in the footsteps of Barclays, which announced the results of its latest buyback on Wednesday.
  • Bank of Communications (BoCom) Financial Leasing is getting ready to hit the road ahead of a Reg S dollar offering that could come as early as next week.
  • FIG
    Chief economists for the Savings Bank Finance Group (SBFG) in Germany have warned the European Central Bank against using monetary policy to help struggling banks, adding that such a course conflicts with its role as a supervisor, and could lead to asset price bubbles.
  • FIG
    Berlin Hyp issued the first negative yielding covered bond this week, giving investors a sign of things to come as financial institutions prepare for another round of monetary policy stimulus from the European Central Bank.
  • The FIG senior unsecured market welcomed lower beta trades from DVB Bank and Dexia Crédit Local on Tuesday, as bankers started to turn their attention to Thursday’s European Central Bank meeting.