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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ABN Amro sold six year Australian dollar debt on Tuesday, attracting interest in spite of a weaker Australian dollar. While the currency has softened in recent weeks, higher yields mean that interest in Australian dollars has not completely died out.
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Abbey National brought the first new senior unsecured benchmark deal from a bank in more than a month on Tuesday, selling €750m of seven year paper and paying a hefty new issue premium to reopen the market.
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Spread-sensitive banks were on Monday staying away from the euro senior unsecured bond market, refusing to pay the high new issue premiums being paid by corporate issuers.
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BNP Paribas has defied the now typical convention of staying away from the primary market on US non-farm payrolls day, by launching a large tap of a floating rate note on Friday morning.
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The primary market has re-opened for financial names, bankers argued this week after Aviva attracted a €4bn welter of orders from over 300 investors for its tier two offering.
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Barclays debt was virtually unmoved on Wednesday after a one-notch downgrade from Standard & Poor’s added to recent pressure from the UK regulator for the bank to meet a 3% liquidity ratio earlier than expected.