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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UBS sold the first euro denominated senior unsecured new issue from a bank since July on Wednesday afternoon, a dual tranche print. The issuer drew in a bumper order book with what bankers away from the deal described as generous new issue premiums before tightening the spreads in to price in line with fair value.
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Bank of America Merrill Lynch built on a strong run in Australian dollars on Wednesday, drawing an oversubscribed order book for a 5.5 year print. The strength of demand for the deal — along with other recent deals from FIG issuers in the currency — suggests that appetite from domestic investors for further deals remains robust. -
Svenska Handelsbanken sold its second ever Samurai print on Thursday, drawing a comfortably subscribed order book for a five tranche deal. BNP Paribas is expected to follow the issuer into the yen market next week, helping boost an already strong year for Samurai volumes.
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Bank of China (BoC) Taipei Branch and China Construction Bank (CCB) Taipei Branch each priced Rmb2bn ($325m) multi-tranche Formosa bonds in the week of August 25, according to three bankers close to the deals. Both banks have previously sold Formosa bonds, but this is the first time they have done so through their Taiwan branches.
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China Orient Asset Management made a blockbuster return to the dollar market on August 27, attracting $10bn of bids for its dual tranche issue. The enthusiastic investor response is a reflection of the progress that China’s toxic asset management sector has made in G3 bond markets since China Orient brought the sector’s first offering in September 2013.
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UBS is set to sell the first euro denominated senior unsecured new issue from a bank since July on Wednesday afternoon. Generous new issue premiums are likely to lure in plenty of interest for the bank’s two and seven year bonds, according to syndicate managers away from the deal.
