UniCredit
-
Sparebanken Sør Boligkreditt issued its second ever covered bond and, similar to deals issued last week, was able to price flat to its curve. But its bonds are not eligible for the ECB's purchase programme, unlike some of last week's tightest issues, which could limit performance potential. -
UniCredit, HSBC and BBVA opened books on new additional tier one (AT1) bonds this week, as banks took advantage of extremely supportive primary market conditions to bolster their stocks of debt capital.
-
-
Senior bank debt investors in Europe are losing their right to accelerate payments of interest or principal. The process has been gradual, low key and at times even overlooked, but it is one of the most fundamental developments in the recent history of the senior bond market.
-
UniCredit and HSBC opened books on new additional tier one (AT1) bonds on Monday, as banks took advantage of extremely supportive primary market conditions to bolster their stocks of debt capital.
-
UniCredit reported a profit jump of 40% in the first quarter, up to €907m. But the bank’s investors will have taken most heart from the firm’s 28% cut in its non-performing exposures from last year, reflecting chief executive Jean-Pierre Mustier’s swift start on restructuring the bank.
-
Emmanuel Macron’s election as French president last weekend was the catalyst for a flood of revved up euro deals this week, with issuers and investors aiming at the long end of the curve as the biggest known political risk in Europe this year passed with a market-friendly outcome. Craig McGlashan reports.
-
Dutch biotechnology firm Qiagen has launched a tightly priced €150m dual currency Schuldschein, with investors treating the Germany-headquartered firm as a domestic issuer.
-
Public sector borrowers in the euro market on Thursday focused their attentions on the long end of the curve, but not every trade made it to full subscription.
-
The European Financial Stability Facility has sent requests for proposals for a trade next week, as a pair of rare issuers on Wednesday placed deals flat to or through fair value in a euro market buoyed by Emmanuel Macron’s election as French president last weekend. Longer dated trades — of which the EFSF has sold several this year — also look to be back on the table for borrowers.
-
Dutch biotechnology firm Qiagen has launched a tightly priced €150m dual currency Schuldschein, as investors treat it as a German issuer.
-
Bpifrance Financement broke its size record on Tuesday, nipping back into capital markets ahead of several of its compatriots, according to a funding official at the issuer. The European Investment Bank (EIB) and NRW.Bank also made the most of the stable conditions, printing their own benchmarks.
