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Conducive credit markets and tight spreads to lure issuers as risks loom on the horizon
Yankee deals range from subordinated debt debuts to super long senior extensions
◆ Steady demand thanks to improved investor perception ◆ Deal pays high single digit premium... ◆ ... but becomes issuer's tightest unsecured issue for many years
Data
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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A Bank of England rate hike is in no one's short term thinking. But if it happened, it could be dire for the housing market and therefore, for those parts of the capital markets that exist because of it. -
UBS’s investment bank spent around $80m from restructuring related to personnel at the end of last year. The Swiss bank has also said it will look into partnerships with other banks for its investment bank.
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Barclays put a senior medium term note banker at risk of redundancy on Friday. The bank will hand the reins of its MTN business to a more junior banker in its Paris office.
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Deutsche Bank has syndicated part of the financing for Cerberus’ acquisition of a large pool of real-estate owned properties (REOs) — houses — from Banco de Sabadell late last year, as part of the bank’s disposals of non-core assets.
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Four covered bond issuers got strong receptions for their deals on Tuesday amid unconfirmed rumours that the European Central Bank could be poised to lower the size of its primary market order on covered bonds launched after Tuesday.
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Greater clarity over Brexit is allowing UK banks to enjoy a warm reception in euros at the start of 2020, with Lloyds Bank Corporate Markets following two of its peers into the market this week.
Polls and awards
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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
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