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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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Analysts at the research house CreditSights expect that Canadian banks could soon start issuing more senior bonds for their total loss-absorbing capacity requirements (TLAC), having held back from the market after taking care of their funding needs with older forms of senior debt. -
A sustained improvement in market conditions suggests issuers now have access to a broad mix of funding instruments and, in the wake of January’s extraordinarily heavy covered bond supply, issuance is likely to moderate.
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The European Parliament and the EU member states are planning to approve a provisional agreement on the Pan-European Personal Pension Product (PEPP) in February — one of the flagship pieces of the Capital Markets Union (CMU) initiative.
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Deutsche Bank offered large new issue premiums in an effort to lure investors towards four tranches of non-preferred senior debt in euros and sterling on Tuesday. The decision to include a two year offering caught some market participants by surprise.
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Turkish President Tayyip Erdogan said on Tuesday that Isbank will become the property of the country's finance ministry, in what a US-based investor said he saw as a 'further consolidation of Erdogan power'.
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Portfolio manager Bill Gross, regarded as a legend of the fixed income investment world, announced his retirement on Monday, after a torrid year for the global unconstrained bond fund he managed at Janus Henderson Investors.
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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