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
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Sumitomo Mitsui Banking Corp enjoyed its second trip to the euro senior unsecured market much more than its first this week as its new seven year transaction drew more than double the demand of its inaugural 10 year offering earlier this year.
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Bank of Nova Scotia and Sallie Mae led what was expected to be the last benchmark issuance by FIG borrowers this year following a strong second half for the US market.
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Rabobank this week returned to make use of the same market that it blew open for European banks earlier this year as it priced four tranches of Samurai bonds, a week after BPCE printed a record-breaking yen trade.
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The European Union last night struck a deal with member states to bring senior bail-in forward to 2016. The deal matched what many in the market were expecting, but bankers anticipate an increase in tier two capital issuance next year from banks in order to protect their senior bondholders. -
Sumitomo Mitsui Banking Corp’s seven year senior trade was bid 3bp tighter in the secondary market on Wednesday, and lead managers said the issuer’s marketing efforts and the quiet market had helped it build a healthy orderbook.
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FIG issuers are making the most of the benign conditions this side of Christmas and have found ample demand in bank capital, senior unsecured and covered bonds this week. Bankers believe investors are still willing to play in numbers because they see more performance potential for credit in early 2014.
