Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
BPM spreads 'unlikely' to widen as issuer remains 'a takeover target'
‘Very impressive’ market growth heralds more SSA and credit issuance
◆ Citi and Wells Fargo opt to issue in euros before dollars ◆ Citi's offer described as first post-GFC euro tier two from a US bank ◆ Both banks achieve competitive funding in 'green flashing' euro market
◆ Mediobanca latest Italian bank to fund amid M&A ◆ Deal well absorbed even at negative NIP, though some debate on price ◆ Similar dynamics gave Ifis tight spread and concession
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Scarcity and 'clever tenors' deliver €7.2bn book for ABN as 'pragmaticism' secures €1bn for Santander -
◆ Second French bank deal in sterling in less than a week ◆ Issuer attracts £1bn-plus book due to lack of FIG supply in the currency ◆ OSB prepares senior return after September debut
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◆ Market reaches new equilibrium after swift spread widening last week ◆ Issuers pay 5bp-15bp of NIP on the day ◆ Long end especially popular as 10 year deals account for half of senior volume
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◆ European banks lead issuance with focus on senior funding ◆ Market wobbles prove funding more challenging than expected ◆ Foreign banks’ capital raising is one prominent feature
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Spreads gap out too fast after the credit rally of a lifetime ends, pushing price-sensitive issuers to reconsider their market entrance
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Buyers grapple with falling interest rates
