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◆ German bank launches new capital as it seeks to buy back old AT1s ◆ Deal lands amid UniCredit takeover... ◆ ... and prices close to where Italian bank's capital trades
◆ Lender joins lively sterling FIG market ◆ Deal said to be three times covered ◆ HSBC also about to price three-part Samurai
◆ Insurance companies timed deals to engage euro accounts ◆ Second deal after earlier senior bond ◆ Raises fresh capital ahead of perp call
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Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
Observers blame slower bookbuilding on deal-specific factors but others see warning shots for whole market
Covered market provides 'the deepest pocket of demand' among FIG asset classes
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
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Athene Global Funding encountered slim demand on its return to the sterling market this week, but UBS had better luck at the short end of the maturity curve. -
Belfius cancelled a consent solicitation for one of its tier two bonds this week after the Single Resolution Board took the market by surprise and broadened the scope of its grandfathering period for ‘Brexit bonds’.
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BPER Banca and UBS ventured out into the euro market on Thursday. After a quiet few days, issuance is ramping up as rates volatility subsides, with bankers expecting a light shower of deals ahead of Easter.
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The European Union’s final draft Taxonomy of Sustainable Economic Activities came in for heavy criticism from a European bank's head of funding on Thursday, who said that the compromise wording would torpedo the market for green covered bonds.
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