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◆ UK building society actively funding across markets and formats in the past four months ◆ Strategic sterling capital deal proactively manages AT1 stack ahead of call ◆ Senior non-preferred euro bond becomes joint tightest UK bank bond at the tenor since 2021
◆ Stability leads to third day of FIG sterling issuance ◆ Rabo prints its first tier two four years ◆ BBVA completes first sterling senior bond since 2020
◆ Follows similar deal from regional peer Swedbank ◆ But earlier bond was already trading wide of reoffer ◆ Pricing prioritised, says banker off deal
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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China’s Guotai Junan Securities Co double-dipped in the international market this week, raising $500m from the sale of a three year bullet on Monday before launching a three year euro-denominated trade on Tuesday to raise an additional €225m. -
M&G Prudential is creating a single unit for global investments and has picked Prudential plc’s group treasurer, Jack Daniels, to lead it. The moves comes ahead of Prudential’s plan to carve out its UK and European savings arm.
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China Development Bank Financial Leasing Co (CDBL) has raised $700m from the bond market, leaning on anchor orders to squeeze a tight final price.
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Danske Bank has turned to the Norwegian krone market to raise non-preferred senior debt, following closely behind a recent transaction in euros.
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Metro Bank has come under pressure from investors building short positions against it in recent days, but sources are still confident in its chances of executing a successful rights issue.
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Jyske Realkredit has mandated leads for the first Danish covered bond of the year. The transaction joins the pipeline alongside two other sub-benchmark deals, this time from Finnish lenders.
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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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