Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
This year's cumulative total issuance by financial institutions outstrips 2025's levels
◆ Part of prefunding for 2027 ◆ Low-to-mid single digit NIP ◆ Green issuance has increased since last year
◆ Extends sterling curve by 15 months ◆ BMO 'well liked, well followed' name, lead says ◆ Lower NIP paid than on recent sterling trades
The bank tightened a little more than a UAE peer did on Tuesday
More articles/Ad
More articles/Ad
More articles
-
ASB Bank and Bank of New Zealand took to the Swiss franc market this week, selling deals in the belly of the curve. The New Zealand banks were joined by Dutch financial ABN Amro, with syndicate officials predicting that five to seven years will remain the most attractive point on the curve in coming weeks.
-
Investors threw their weight behind Europe’s recovery this week, gorging themselves on just over €9bn of new euro-denominated senior unsecured paper, much of it from banks in the continent’s peripheral economies. The likes of Bankia and Bank of Ireland would have been called PIIGS two years ago, but this week the only thing they were wallowing in was orders — although ECB president Mario Draghi tried his best to keep the market’s rampant optimism in check on Thursday.
-
US investor appetite for southern European FIG paper started the year on a strong note, as Intesa Sanpaolo brought its first deal of 2014 this week.
-
Spanish banking conglomerate Bankia found overwhelming demand for its first post-crisis senior unsecured deal on Thursday, as investors placed almost €3.5bn of orders for the five year trade. While the broader market showed some signs of weakness, bankers were confident that the FIG feeding frenzy would continue — even the sterling market saw some action, with Axa pricing a €750m 40 non-call 10 year subordinated bond.
-
ASB Bank became the second New Zealand issuer to tap the Swiss franc market this week on Thursday morning, pricing a new six year deal. Domestic bank Raiffeisen Schweiz is also in the market with a dual tranche fixed and floating rate deal.
-
Bank of Ireland capitalised on FIG investors’ appetite for higher yielding peripheral credits on Wednesday, selling the longest deal from an Irish bank since before the country’s bailout in 2010. The depth of demand allowed BoI to price the trade flat to fair value or even inside it, according to some market participants. Meanwhile, Rabobank sold a two year floating rate trade.