Nomura
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Bank issuers are increasingly interested in the idea of selling tier two bonds in green formats. But green additional tier ones are unlikely to bloom. -
NRW.Bank will be the next public sector borrower to hit the sterling market following an improved funding cost in the currency versus euros and dollars.
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Leeds Building Society returned to the senior sterling market on Tuesday after more than a decade away. It was its first foray into the non-preferred format, which will help it build up its buffers over its minimum requirements for own funds and eligible liabilities (MREL).
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CaixaBank was well supported for the sale of a new €1bn tier two this week, becoming only the fourth European bank to issue a capital transaction in green format.
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Leeds Building Society is preparing to return to the sterling market this week for its first ever sale of non-preferred senior debt. The new bond will help the issuer refinance a euro deal maturing later this year, while reshaping its balance sheet for the minimum requirements for own funds and eligible liabilities (MREL).
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Intesa Sanpaolo ventured outside of its home market in search of senior paper this week, placing its first sterling deal in almost nine months and its first yen trade since early 2019.
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Swedish Export Credit Corporation on Thursday became sold the third three year dollar deal by a public sector borrower in as many days, showing ample demand for the short end of the dollar curve.
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Alpha Bank priced a new tier two in line with its initial marketing range on Thursday, after failing to build up much momentum through the order book.
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Arab Petroleum Investment Corp, the multilateral development bank headquartered in Saudi Arabia, returned to the capital markets to tap a bond it issued just last month. The dollar note saw a notable tightening in pricing.
