Santander
-
◆ Spanish bank finds 'good window' to pre-fund ◆ Pays just 10bp NIP for 4NC3 and eight year SNP ◆ Longer tranche is more popular -
-
◆ Smaller European banks 'take advantage' of absent national champions in euros ◆ Bankinter, Santander Consumer Bank land deals with up to 10bp NIP ◆ Austria's RBI prepares debut SNP
-
'Generally of the view that we’re at or around peak rates' says lead
-
◆ Austrian lender saves with early tier two refi ◆ Others could follow into 'wide open' AT1 market ◆ Generali's popular tier two bullet shoots through fair value
-
◆ Spanish bank becomes first big European lender to skip an AT1 call this year ◆ Muted market reaction for other issuers so far ◆ Intesa Sanpaolo prints €1.25bn AT1 with €5bn peak book
-
Whether to push on with supply or take a break divides participants
-
The former Credit Suisse banker will start his new role next week
-
◆ Bank attracts £455m of orders for £500m print ◆ Price-sensitive investors resist 7bp move ◆ Bond holds firm on the offer side post-pricing, ask spotted 5bp wider
-
Trio of borrowers add to busy dealflow — with more to come
-
The Spanish bank is beefing up its investment bank in Europe and the US
-
◆ Low concessions paid in the first part of the week ◆ Market tone worsens after US downgrade and rates volatility ◆ Wells Fargo chooses quick return for opco funding
