Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Greek bank's first deal of the year ◆ Issuer took advantage of an empty market ◆ Priced with 5bp-7bp of new issue concession
Concessions have tightened for both capital and senior trades, as technical conditions favour FIG issuers
◆ Simultaneous execution with Alphabet's record deal bodes well for others ◆ More FIG names likely to print in near future ◆ Other European banks diversify funding in Singaporean and Australian dollars
Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates
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◆ Debate over concessions on non-preferred dual trancher ◆ Longer end draws smaller book ◆ Spar Nord Bank debuts green bond -
◆ Issuer takes advantage of the duration bid ◆ Print close to fair value, if not inside ◆ Smaller compatriot Spar Nord Bank readying green debut
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Favourable conditions could encourage pre-funding for 2025
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Higher yields, through senior duration and capital, to support prefunding demand
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◆ Big order book for long tranche ◆ Fair value debate ◆ Sources close to trade disclose it is not pre-funding
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