Top section
Top section
◆ Largest Australian tier two tranche since 2020 ◆ Pays slightly higher NIP than earlier deals ◆ 'Novel' structure attracts high quality order book
Deals price tightly to Western European peers, with high-spread Icelandic banks performing the most
◆ British lender fixed spread and deal size from outset ◆ Order book closed at over two times the deal size ◆ Fixing terms enabled faster execution, the lender said
Data
Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
Philippine issuers are flooding the market with dollar bonds, giving investors an unprecedented selection of deals from the country. There is plenty more to come. Morgan Davis reports. -
François-Louis Michaud was approved as the next executive director of the European Banking Authority on Wednesday. The EBA’s previous choice was rejected by parliamentarians, and this nomination faced scrutiny too over gender balance.
-
ABC International Holdings raised $450m from a three year bond on Wednesday, thanks in part to backing from the 23 banks that ran its transaction.
-
Kookmin Bank has priced its debut euro covered bond flat to where its higher rated compatriot, Korea Housing Finance Corporation (KHFC) would have been expected to come. The deal was said to have attracted additional demand due to its social theme, spurring hopes that further similar issuance would follow.
-
CCR Re, the French reinsurer, debuted in the bond market with a tier two on Wednesday, executing a strong transaction on the back of intensive investor engagement combined with favourable market conditions.
-
In a response to feedback from UK financial institutions, the Prudential Regulation Authority has said it will assess the appropriateness of any reduction in Pillar 2A (P2A) requirements so that the buffer provides a fair measure of the risks facing banks as the UK prepares to leave the EU.
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
Don't miss your chance to choose this year's Bond Award winners
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
Sub-sections
Comment