Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ First euro funding in almost a decade ◆ Part of early refi of its last euro bond ◆ Rarity makes it a trickier sale during heightened market volatility
◆ Landesbank increases senior market presence ◆ Slower demand due to limited familiarity beyond Germany-speaking investors ◆ Similar execution to other recent 'rich' SP bonds
◆ Fixed rate tranches leave double-digit concessions to attract hefty book ◆ Favourable cost to dollars ◆ HSBC surpasses 2026 holdco funding plan
◆ Steady demand thanks to improved investor perception ◆ Deal pays high single digit premium... ◆ ... but becomes issuer's tightest unsecured issue for many years
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The FIG market is expected to be very crowded in the last week of August and September as banks return to what is shaping up to be a strong backdrop and try to get business done ahead of the potentially disruptive German general election on September 22. -
A smattering of issues this week showed it is possible for covered bond issuers to price publicly syndicated deals at the height of summer. Activity is more pedestrian in other FIG markets as Europe’s lenders continue to report second quarter results, with many posting more satisfying numbers than this time last year.
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The FIG market is shaping up to be a welcoming place for periphery banks when the summer ends, and some syndicate desks are urging southern European borrowers to look at the market earlier than that.
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Rabobank is to issue two uridashi bonds under its Agri bond label that supports funding for agribusiness in developing countries. Daiwa Securities is managing the South African rand and Australian dollar deals.
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Goldman Sachs sold its first Kangaroo bond of the year on Tuesday, pricing fixed and floating five year bonds. Aussie dollar syndicate bankers are hoping for an active August, with redemptions freeing up a large amount of investor cash.
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Bank of America Corporation has accepted €1.58bn of notes tendered by investors in the first part of a buyback of 2014 senior unsecured notes in euros, US dollars and Canadian dollars that could ultimately see the US bank pay out $5bn.
