Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
The bank tightened a little more than a UAE peer did on Tuesday
◆ '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
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Citigroup has launched tender offers on another $1.5bn of long-dated senior unsecured debt, continuing a steady stream of liability management exercises as the US bank looks to cut its funding costs.
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The recent spurt of issuance in senior unsecured was halted by a US holiday and anticipated covered bond activity on Monday, but bankers said the market is set up for core banks and they expect supply to resume before too long.
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Barclays followed up its long-awaited return to the dollar senior unsecured market this week with an even longer-awaited return to euros on Friday, launching a seven year deal.
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Mitsubishi UFJ Lease & Finance price a five year floating rate dollar bond on Thursday which received strong interest from local Japanese buyers. However the issuer did not want to cannibalise its onshore programme so told banks to put a limit on the amount domestic investors could buy. -
Banks took the simple approach of going where the demand was in senior unsecured this week, with four well-rated borrowers finding deep pockets in the seven year maturity.
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European investors believe senior bank debt is unlikely to suffer default as a result of a eurozone bank failing the European Central Bank's asset quality review and stress tests this year, an investor survey by Fitch Ratings has shown.
