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Bank issuance ranges from strategic tier one capital to insurance subsidiary funding externalisation and big senior bond offerings
◆ €500m trade twice covered ◆ Investors showing less preference for tier twos, rival banker says ◆ Low-to-mid single digit concession
◆ Receptive but crowded FIG market requires concessions for funding to clear ◆ BBVA goes big with its first SP in more than two years ◆ Bawag issues first bond after PTSB acquisition
Data
Higher new issue premiums make deals shine amid market volatility
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
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It is with much sadness that we have to report the death of Vishal Savadia.
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A surge of additional tier one issuance this week shone a light on how activity in the market is going to shape up in the coming months and years — refinancing is now the main game in town. -
Deutsche Bank has added two senior bankers to its Americas debt syndicate desk in New York as it looks to build on a strong start to the year in investment grade DCM.
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Swiss franc investors leapt headlong into the Brexit turbulence on Thursday morning, giving a solid reception to the first Swissie deal of the year from a UK corporate borrower.
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The Commerzbank and Deutsche Bank talks have given Europe’s FIG bankers an unexpected source of cheer, writes David Rothnie.
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The unique assets and business model of Danish Ship Finance meant the price discovery process was much more challenging for its first euro covered bond than is typical. However, with a conservative starting spread the issuer reeled investors in for its inaugural euro benchmark on Thursday.
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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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