Santander
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Changing emphasis from national regulators could give European banks more incentive to refinance additional tier ones with low common equity tier one triggers in the next couple of years, according to analysts at research house CreditSights. -
Santander Brasil has tested the country’s Letra Imobiliária Garantida (LIGs) covered bond regime with two privately placed deals.
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All eyes are on Banco Santander in the run-up to a busy 2019 for additional tier one redemptions. Brutal trading conditions have left the Spanish bank at high risk of becoming the first issuer to leave a deal outstanding past its first call date. Tyler Davies reports.
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Instituto de Crédito Oficial (Ico) is eyeing up its first ever green bond in 2019 following a series of social bonds.
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A pair of socially responsible investment deals from public sector borrowers received mixed views on Monday from on-looking SSA bankers. Instituto de Crédito Oficial was able to tighten its spread by 3bp for its first syndication of 2018, while Bank Nederlandse Gemeenten returned for its second sustainability bond of the year.
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JTC, the UK provider of institutional and private wealth services, has increased its sterling revolving credit facility provided by HSBC from £10m to £55m, adding three banks to its lending group.
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Barclays and Santander UK exploited the relief rally in the immediate aftermath of the US midterm elections this week to take home a combined $4.5bn.
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BMW Finance found no reduction in the demand for its paper, despite its new issue on Thursday being its fourth dual-tranche deal of the year. The company has sold at least €1.75bn during each previous quarter of 2018, and it hit that mark again with its shortest combination of tenors.
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Spanish banks were among the best performers in the debt and equity markets on Wednesday, after the country’s Supreme Court surprised market participants by reversing a ruling that would have meant that lenders were liable to pay stamp duty on mortgage loans.
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Coca-Cola European Partners opened the European corporate bond market on Monday with its third visit to the market since the company was created in 2016. The €400m nine year bond was three times subscribed.
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There is increasing confidence among market participants that the European Central Bank will renew its policy of providing banks with cheap financing, given the arrival of tougher issuance conditions and more stringent liquidity requirements.
