Intesa Sanpaolo
-
‘Generational change’ includes new CFO, deputy CFO and head of funding
-
Order books shrink when issuers tighten pricing as investor expectations of rate cuts shift
-
◆ All issuers complete deals with seemingly no competition among them ◆ Three banks choose short and mid range maturities to tap different investors ◆ Market remains receptive for more issuance
-
Joint Lander #64 and Eurofima take euros while EBRD goes for sterling
-
Banks may bring forward their 2024 funding plans to snap up duration as investors look to position ahead of predicted rate cuts
-
◆ Italian bank gets duration in Yankee market that it cannot reach in Europe ◆ The $3bn deal was its biggest for a decade ◆ Global bid for duration allows it to print longest SP dollar deal this year
-
Borrower targets pocket of liquidity in two year FRNs
-
Banks are getting busy refinancing additional tier one — could even UBS issue?
-
◆ Spanish bank becomes first big European lender to skip an AT1 call this year ◆ Muted market reaction for other issuers so far ◆ Intesa Sanpaolo prints €1.25bn AT1 with €5bn peak book
-
◆ The two banks restart senior issuance from national champions ◆ Intesa takes double the funding in eight year tranche than in four year one ◆ Mizuho’s seven year gets ‘extra boost’ from green label
-
◆ Intesa takes €1.25bn with first covered bond since 2019 ◆ 12bp of concession left on the table ◆ Portugal’s Banco BPI to follow with its own covered return
-
Italian lender pushes out to print 31 year non-call 30 note
-
◆ Secondary rally shows appetite for risk ◆ Issuers target quick intra-day execution before CPI ◆ HSBC starts by luring Asian demand
-
Pair attract a combined €6.3bn thanks to high yields and a normalising swap curve
-
Positive Euribor rate prompts investors to look for longer FRNs
-
Investors appreciated the Japanese bank’s ‘clinical one step move’
-
Demand strongest at the short end due to market volatility
-
Intesa offers up to five tranches out to 10 years as Rabobank issues private tier two
-
Investors eager to lock in 'interesting yield' for Italy's national champion
-
Rarer names and currencies are proving popular with investors
-
Italian motor parts maker narrows price range as Ionos prepares to take lower valuation
-
Sustainability-linked deal closed early due to massive demand
-
The Italian electric motor parts manufacturer launched its flotation on Thursday
-
Calmer book builds than earlier trades hint at less guesswork over pricing
-
European utilities take the lead, raising €12.75bn this month
-
Portuguese utility gets almost seven times demand for €1bn subordinated debt
-
Solid demand and ample tightening in first full week of the year
-
Huge yield movement during bookbuilding as even 17 banks find IPTs hard to pinpoint
-
Car finance companies provide taste of what 2023 IG corporate bonds has to offer
-
Italian pharmacy group to refinance €460m of debt and pursue acquisitions
-
The Italian bank cashed in €584m of shares in the payment systems company
-
Italian holding company manages to get some spread movement after Monday’s deals stalled
-
Elevated concessions for senior deals are here to stay
-
Investors demand high concession for low rated, cyclical, energy-hungry industry
-
Smaller and weaker European financial institutions must raise funding this year but will have to navigate a backlog of competing issuance
-
Bulging books for some, but Grenke is forced to postpone its trade after opening books