Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Kangaroo and Panda market grow as banks create US dollar FRNs to meet Asian demand
◆ Week's third FIG sterling deal to take advantage of opportunistic Gilts arb this ◆ Issuer's second sterling deal this year ◆ Follows multi-tranche yen issuance across the capital stack
◆ Issuer raises large size for the currency ◆ Pricing break through 100bp level ◆ Book stays almost intact despite macro volatility
◆ Spanish lender returns to unsecured issuance after three years ◆ Spanish banks are seizing a favourable funding environment ◆ Concession paid to keep selective investors interested
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Santander UK was set to print a solid sterling senior holdco debut on Friday, but different views of the appropriate spread between opco and holdco debt meant rival bankers couldn't agree on fair value for the deal. -
Westpac New Zealand launched an eight year Swiss franc deal on Friday, making it the second international issuer in the market this week.
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South Korea's KEB Hana Bank is set to meet investors next week ahead of its first foray into the dollar bond market since its merger.
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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.
