Top section
Top section
◆ Wednesday's 'stand out' senior trade ◆ €1.6bn order book largest ever for BoC ◆ First transaction since acquisiton of UAE-based CDB Bank
Elena Bortolotti was promoted to managing director at Barclays in January 2022
◆ Largest Australian tier two tranche since 2020 ◆ Pays slightly higher NIP than earlier deals ◆ 'Novel' structure attracts high quality order book
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
-
Crédit Mutuel Arkéa has joined a fast-growing list of banks marketing Covid-19 response funding in the bond market, raising €750m in non-preferred senior format on Thursday to finance projects through its social bond framework that tackle the effects of the pandemic -
Nordea Bank took advantage of very attractive conditions in the dollar market this week to price a new senior deal at a spread that was well below the fair value implied by secondary trading levels.
-
Barclays was positively surprised at how quickly capital markets reopened and it wasted little time issuing senior and tier two deals while its treasury team were still working from home. The UK lender is likely to use the Bank of England's Term Funding for Small and Medium-sized Enterprises (TFSME) facility, which will lower its secured funding needs. The bank was well capitalised going into the crisis and has buttressed itself against the expected tide of credit impairments with a prudent level of provisioning.
-
Standard Chartered sold its first capital instrument in euros since 2014 this week, clocking up a considerable 40bp saving versus the dollar market. The deal adds to a recent flurry of tier two supply from European banks.
-
The head of the Prudential Regulation Authority (PRA) has sent a letter to banks confirming its guidance on how to provision for expected credit losses (ECLs) amid the coronavirus pandemic. The UK regulator also said that it would be asking for more information around loan loss provisions in an effort to identify "significant outliers" in the market.
-
EU lenders will have to give more detail about their use of loan repayment holidays and public guarantee schemes during the coronavirus pandemic, according to new reporting guidelines published by the European Banking Authority (EBA) this week.
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