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◆ US asset manager is a rare name in the bond market ◆ Sterling leg comes alongside triple tranche dollar deal ◆ £9.9bn Schroders acquisition to close in the fourth quarter
◆ 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
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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Malaysia’s RHB Bank ended its dollar bond market hiatus on Tuesday, offering a $300m bond that got big demand despite its ultra-tight pricing. -
Svenska Handelsbanken picked banks on Wednesday to arrange the sale of a new additional tier one in the dollar market, with the dust yet to settle around Banco Santander’s decision to extend the life of one of its instruments.
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BPCE and Achmea Hypo managed good price and size outcomes for their covered bonds issued on Wednesday, but the fact they were less well subscribed than recent deals added to the impression that the recent good run has stalled, with spreads now ‘treading water,’ a lead manager conceded.
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Italy’s UniCredit was able to raise €1bn of new tier two capital without having to pay a large premium on Wednesday, adding to recent evidence that the subordinated debt market is in rude health.
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ABN Amro is set to boost its capital ratios through merging its operating and holding companies.
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Two numbers stood out in Natixis’ fourth quarter results: the €259m loss from Asian equity derivatives, and the €249m of performance fees generated by its asset and wealth management business.
Polls and awards
Cast your vote now to decide this year's covered bond award winners and express your views in our new market survey
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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