Santander

Alpha Bank announced plans for a new issue of tier two capital on Monday, as the bank looks make use of a favourable backdrop in the bond market and renewed investor interest in Greek assets.

BPHA, a housing association headquartered in Bedford, is looking to sell US private placements, according to several market sources, as private debt remains readily available for UK HAs.

Investors embraced a rare offering of non-preferred senior notes from Bankinter this week, with the Spanish issuer making its debut in the green bond market.

Financial institutions did not take long to return to printing new bond deals at tight spreads this week, as investors quickly got over fears about the impact of the coronavirus epidemic.

Banco Santander included a small premium in the pricing for its latest non-preferred senior bond this week, as the bank looked ahead to a busy year for issuance in the asset class.

LBBW has revealed that most investors in its latest green bond were signatories to the UN Principles for Responsible Investment. The novel disclosure offers a ‘more reliable’ way of describing green participation in new bond issues, according to the bank.

Telefonica, the Spanish telecommunications company, issued senior and hybrid bonds in euros on Monday. While it picked a horrendous day for markets for its offer, Telefonica still managed to pay small or negative price concessions relative to its secondary curve.

Banca Monte dei Paschi di Siena wrapped up its second deal of the month on Tuesday, capping off a busy period for Italian deal flow in advance of important regional elections.

Thales, the French defence company, sold a €500m bond on Wednesday that appears to have been priced with no new issue premium, or even at a fraction inside its curve, in a corporate bond market heavily weighted in borrowers’ favour.

Landesbank Baden-Württemberg (LBBW) became the first issuer of non-preferred senior bonds in green format in sterling this week. The German lender took advantage of favourable market conditions to print in line with other recent sterling issuers.

Greater clarity over Brexit is allowing UK banks to enjoy a warm reception in euros at the start of 2020, with Lloyds Bank Corporate Markets following two of its peers into the market this week.

Banca Monte dei Paschi di Siena was marketing a new senior bond in the euro market on Tuesday, a matter of days after it completed its capital raising plan with a tier two sold at 8%.