Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ French bank secures 'surprising' demand... ◆... giving the option to go big ahead of national budget ◆ Concessions debated, but higher premium and spreads lure buyers
◆ Best window of the week, lead says ◆ Less concession than other recent deals ◆ Danske "pretty much done" for 2026 funding plan
◆ Deal followed HSBC's €3.75bn three part deal... ◆ ... and paid less NIP, tackling shorter end of curve ◆ Book grew after price revision
◆ 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
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BNP Paribas achieved its goal of distributing its latest senior unsecured bond among lower tier accounts on Tuesday. The regional structure of the deal scared off many of Europe’s bigger buyers, but the €650m deal was trading inside reoffer on Wednesday.
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Bank of America Merrill Lynch sold its first Kangaroo bond in nearly three years on Tuesday, pricing a five year dual tranche benchmark during the Sydney day. Investors rushed to pick up the paper, attracted by the high yields on offer and the issuer’s rarity in Australian dollars.
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Douglas Flint, group chairman of HSBC, told EuroWeek Bank Finance on Tuesday that the Cypriot banking crisis had highlighted the need for a debate on whether depositors should rank pari-passu with senior unsecured bondholders, taking into account the demographics of banks’ deposit bases.
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ASB Bank, the New Zealand subsidiary of Commonwealth Bank of Australia, sold five year Swiss franc debt on Monday, taking advantage of a scarcity of issuance from high grade financials in the currency.
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BNP Paribas was set to price a 5.5 year senior unsecured deal with second and third tier accounts in Europe on Tuesday, the latest transaction to come with little or no new issue concession.
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Rabobank was on course to print a 10 year senior unsecured transaction through its secondary curve on Monday, as senior unsecured picked up in the bullish mood it finished last week.