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Senior Debt

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◆ 'Reassuring' result as Danish lender becomes more frequent issuer ◆ Strong bid from international accounts ◆ Minimal NIP
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
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  • FIG
    Virgin Money and Shawbrook posted impressive jumps in underlying profits this week, casting the UK’s challenger banks in a positive light just as some of the country’s biggest lenders contemplate falling revenues.
  • Covered bonds have dominated FIG supply again this week as banks look towards a European Central Bank policy decision next week that is impossible to call.
  • Swedbank was set to price a three year floating rate note well above par on Thursday, potentially limiting demand but showing the way for other borrowers in a era of negative rates.
  • HSBC followed through on its plans to issue loss-absorbing debt from its holding company on Wednesday, putting a big dent in its issuance targets with a $7bn deal.
  • Santander Consumer Finance took advantage of relatively stable conditions in the Swiss franc market on Tuesday to print just its second bond in the currency.
  • Rizal Commercial Banking Corp (RCBC) has doubled the size of its medium term note programme to $2bn.