Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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◆Highest rated FIG bail-in paper in euros ◆ Prices level with Nordic peer ◆ Premium paid
Currency's higher yielding appeal has lured investors across the capital stack
More US banks have used callable format for opco dollar issuance this year
◆ US company aims to issue more frequently in euros ◆ Final book heard at €1.75bn ◆ Favourable relative pricing at seven years
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South Korea’s Woori Bank raised smaller-than-expected $350m with its first dollar bond of 2015 on January 14. Due to the smaller order book size and slower bookbuilding process than usual, the South Korean lender had to settle for the lower end of what it aimed to raise, but has been enjoying a good performance in the secondary market. -
The recent flood of euro denominated senior unsecured issuance slowed on Wednesday, with BPCE the only European financial to sell a deal in the currency. Toronto Dominion Bank took to the sterling market for a short dated FRN.
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Woori Bank opened books to its first dollar bond this year on Wednesday, January 14, as the South Korean lender was encouraged by the relatively successful outcomes of compatriot Export Import Bank of Korea (Kexim) earlier this week.
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Book sizes for Tuesday’s offerings of senior fixed rate deals have fallen sharply, compared to the unusually swollen orders placed for new issues in recent days, but the market is still steaming ahead.
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Demand was robust for floating rate paper on Tuesday as Commonwealth Bank of Australia sold its first deal of 2015 and Caisse Centrale Desjardins du Quebec (CCDJ) returned to the senior unsecured euro market after an absence of almost five years.
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Philippine bank Rizal Commercial Banking Corp (RCBC) priced its five year dollar bond on Monday, January 12. As onshore investors piled in to get a share of the popular credit, the Manila based lender effortlessly raised $200m despite competing supplies from bigger, more frequent issuers.
