Santander
-
Latest deal came 1bp through fair value, according to the issuer
-
UK lender prints largest single tranche covered bond from a foreign issuer since last August
-
Early exit from blackout brings first mover advantage, as Swiss market shows it can offer size
-
London-listed business closes syndication on acquisition finance
-
New July 2054 attracts one of the sovereign’s largest order books, according to lead
-
The $2.5bn deal has given issuer more time to think about its next trade
-
Banks push longer and tighter but investors keep coming back for more
-
◆ Investors lodge big orders so as not to miss current spreads and yields before rate cuts ◆ This sentiment especially strong for sub debt ◆ Mediobanca also issues €300m tier two that was 4.5 times covered
-
◆ Spanish bank parent takes out £600m at seven year maturity ◆ Deal comes at a premium to euros but broadens its diversification drive across markets, issuing entities ◆ UK lender OSB Group improves on senior debut
-
Demand for its new 10 year trade finished above €137bn
-
Scarcity and 'clever tenors' deliver €7.2bn book for ABN as 'pragmaticism' secures €1bn for Santander
-
◆ European banks lead issuance with focus on senior funding ◆ Market wobbles prove funding more challenging than expected ◆ Foreign banks’ capital raising is one prominent feature