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◆ Aussie bank has primary to itself on Friday ◆ Deal ‘sufficiently different,’ say bankers ◆ Both tranches offer small premiums
◆Highest rated FIG bail-in paper in euros ◆ Prices level with Nordic peer ◆ Premium paid
More US banks have used callable format for opco dollar issuance this year
Data
Currency's higher yielding appeal has lured investors across the capital stack
Issuers seizing moment as rates stabalise and spreads hold near historic tights but some deals betray signs investors growing sensitive on price
Less frequent issuers making the most of market with strong bid for yieldy assets
Borrowers want to issue and spreads are tight, but execution windows are very unreliable
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The Reserve Bank of New Zealand will prevent its financial institutions from redeeming subordinated bonds during the coronavirus pandemic, putting itself in contrast with other parts of the world, where banks remain free to manage their debt capital as they see fit. -
EU finance ministers will call on regulatory authorities next week to be as flexible as possible so that banks can carry on lending through the coronavirus crisis, building on initial moves towards supervisory relief.
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Helaba has appointed two new syndicate bankers as it looks to bolster its coverage of FIG and SSA clients. The hires are among the first following a restructuring of the German bank’s capital markets business.
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Crédit Agricole jump-started the primary covered bond market on Wednesday with a deal that is hoped will re-establish something of a normal rhythm of issuance.
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Lloyds Bank is looking to buy back one of its more costly perpetual tier one capital instruments, after its valuation collapsed in March. The move took some market participants by surprise, since it would have been approved by UK authorities, which are at the same time insisting that the country's banks conserve their capital levels during the coronavirus crisis.
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The Bank of England threatened to use its ‘supervisory powers’ on UK banks if they did not agree to suspend dividend distributions this year and stop paying cash bonuses to staff. The instructions do not apply to the equity-like CCDS instruments issued by building societies.
Polls and awards
The awards recognise the market's leading deals, issuers, banks and other participants
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
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