Issues

Investors are receptive to new Turkey bonds, but borrowers will have to be careful in their approach

Issuer will adopt the same ‘twin bond’ approach as its product debut, sold via auction, last year

The ECB’s withdrawal — both as investor and lender — from the bank bond market has rippled through covered bonds over the last 18 months, according to data from GlobalCapital’s Primary Market Monitor, which tracks syndicated benchmarks across asset classes in major currencies. Frank Jackman reports.

◆ Spanish bank obtains regional investor diversification and fresh capital ◆ Deal highlights subordinated funding is cheaper in dollars than euros ◆ Other banks should be encouraged to issue in dollars

Pent-up demand for five year dollar bonds helped attract $2.2bn of orders

Investors turn up for triple-B rated debt from out of favour sector

Germany is leading the reopening of Europe’s IPO market

Issuer lands mid-teens new issue concession in short end outing

◆ Belgian bank completes its largest deal at €600m ◆ Debut green bond attracts ‘classic ESG’ investors ◆ Lower tier bank issuers are starting to face some indigestion in the euro FIG market

◆ Deal precedes redemption of AT1 and exacerbates shortage of paper in the currency ◆ Issuer locks in ‘very good’ arb ◆ HSBC’s third trade this week follows sterling covered and senior bonds

Caribbean issuer takes $560m of seven year money as credit story shows signs of turnaround

Danaher spin-off water company plants its flag in the euro market