JP Morgan
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Luxembourg's Quintet Private Bank tapped the market for €125m of additional tier one (AT1) paper on Friday, marking its debut in the asset class. -
Italian insurer UnipolSai Assicurazioni will be hoping to launch its first restricted tier one (RT1) bond this week, after which it could retire a pair of its lower quality tier two instruments.
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La Banque Postale (LBP) printed €500m of January 2031 non-call January 2026 tier two paper this week, its first in the format in over three years.
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JP Morgan's Raj Kapadia has joined MUFG as international head of capital markets, as the firm increases its leveraged finance focus. It has also set up a new group to advise clients at the C-suite level on market and macroeconomic developments, led by Tom Joyce, a hire from Deutsche Bank.
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The world’s biggest banks sat out the primary bond market in dollars this week, dashing hopes of a pre-election funding blitz.
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Agricultural Bank of China and Bank of China’s investment arm tapped the bond market on Thursday, joining a host of other issuers that also sought fresh funding.
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Asia’s dollar bond market has been swamped with new deals this week. Thursday was no different, with corporate borrowers from Greater China alone raising just over $3bn between them.
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It was a moderate week for supply in the primary euro public sector bond market but the issuers that did come found ample demand, setting up a decent backdrop for the expected arrival of the European Union’s big borrowing programme next week.
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Rating: Baa1/A-/A+ (issuer expected)
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The leading US investment banks raked in fees from equity origination in the third quarter, with Goldman Sachs, Morgan Stanley and Bank of America all doubling their ECM revenues year-on-year.
