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◆ Fixed rate tranches leave double-digit concessions to attract hefty book ◆ Favourable cost to dollars ◆ HSBC surpasses 2026 holdco funding plan
◆ First euro funding in almost a decade ◆ Part of early refi of its last euro bond ◆ Rarity makes it a trickier sale during heightened market volatility
◆ Landesbank increases senior market presence ◆ Slower demand due to limited familiarity beyond Germany-speaking investors ◆ Similar execution to other recent 'rich' SP bonds
Data
Conducive credit markets and tight spreads to lure issuers as risks loom on the horizon
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
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ASR Nederland has asked its bondholders for permission to increase the size of its only restricted tier one (RT1) from €300m to €500m — a move that the Dutch insurer hopes will increase the ‘tradability and liquidity’ of the subordinated debt instrument. -
After a tumultuous year, the UK’s Metro Bank is readying a return to the bond market to raise debt for its minimum requirement for own funds and eligible liabilities (MREL) ahead of a 2020 deadline.
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Adam Farkas, executive director of the European Banking Authority, will lead the Association for Financial Markets in Europe (AFME), a move that has caused concern among some observers of financial policy in Europe.
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Strong demand for Bangkok Bank’s dollar-denominated Basel III-compliant tier two transaction allowed Thailand’s largest lender to sell a bigger deal at a tighter price than expected, writes Addison Gong.
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Agricultural Bank of China’s Singapore branch has sold the tightest three year floating rate note (FRN) from a big four Chinese bank, adding $500m to its coffers.
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Banco Sabadell and ASB Finance launched senior bonds in the euro market on Monday, with the former hitting the ‘sweet spot’ of investor appetite and the latter struggling to achieve the same level of demand as its Kiwi peer ANZ New Zealand had last week.
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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