Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
New issue premiums increased in the second half of April amid shifting rates expectations
◆ Issuance may be concentrated on Tuesday after a single deal on Monday ◆ Prospects for euro paper brighter than dollars ◆ AT1s in any currency likely to do well in this market
◆ Callable FRN structure is ’positive evolution’ ◆ Longer fixed tranche draws €5.6bn orders ◆ Duration for high quality names still sought
◆ Lender takes advantage of demand for higher yielding FIG names ◆ Completes annual funding and MREL requirements ahead of time ◆ Other lower tier European issuers execute similar deals
More articles/Ad
More articles/Ad
More articles
-
Lower funding needs and tight senior spreads supress Aussie dollar covered supply -
European financial institutions — already facing a narrow issuance window over the next couple of weeks — must also navigate renewed rates volatility
-
◆ Volatility spikes across markets and asset classes ◆ Citi differentiates from peers by funding at short end too ◆ Amex shows demand for FIG bonds as it issues senior and subordinated debt with negative NIP
-
◆ Order book halves after ‘aggressive’ tightening ◆ Bankers away say deal came through fair value ◆ FRN bid 'strong'
-
◆ Achmea proves appetite for higher beta tier two ◆ HCB senior preferred 3.6 times covered ◆ 'Senior issuance is still working'
-
Cypriot lender's debut green bond emulates similar deals
-
◆ Investors look to pick up spread through subordination rather than stay safe in senior ◆ Credit Mutuel's insurance arm brings deal ◆ But price on Crelan's 10 times covered tier two causes consternation
-
◆ Attrition in order books ◆ Investors question valuations amid concerns about new issues underperforming ◆ Pipeline is ‘busy-ish’ and market ‘pretty constructive’
-
-
Buying the bond at a premium to parent RBI is a 'no-brainer', according to a lead manager
-
Investors are ready to embrace unsecured bank debt yet again — but at double digit new issue concessions
-
◆ Money centre banks drive $25bn-plus three-day issuance rush ◆ Goldman first refinances capital with new, cheaper deal and then returns for senior funding ◆ RBC debuts its most subordinated debt in US dollars
-
◆ Senior FRNs in euros appear more cost-efficient for issuers than covered bonds ◆ Savings vary by issuer ◆ Asset mangers prefer to buy from higher-rated FRN issuers
-
◆ Global markets search for clues on how long before US rates are cut ◆ Fed path deemed more important than Middle East conflict in dictating primary market tone ◆ Pipeline across capital stack once clarity emerges
-
◆ Santander paid 10bp-15bp new issue premium ◆ Lead says paid up more because of market uncertainty ◆ Some bankers argue Middle East conflict ‘had no impact on pricing and execution’
-
◆ UK's biggest building society kicks off FY 2024 issuance programme ◆ Treasury deputy Collins on 'never being a forced issuer' ◆ Nationwide and Virgin Money combined issuance needs under consideration
-
If rate cuts are further delayed, the red hot streak of floating rate note issuance will continue
-
Order books shrink when issuers tighten pricing as investor expectations of rate cuts shift
