United States
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Yankee and US banks dictated the pace of dollar supply as they moved early to print TLAC-friendly trades ahead of the publication of the final regulatory rules. -
UBS pulled in $13bn of demand for a holdco senior debut in dollars this week, which for some bankers showed the gulf between attitudes towards loss-absorbing debt on either side of the Atlantic.
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Coca-Cola made an impressive debut in Swiss francs on Tuesday with a three tranche deal that matched Shell’s August record-breaker in size.
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Traders have welcomed IntercontinentalExchange’s plans to launch a cotton derivative contract aimed at solving problems faced by international producers and consumers.
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Coca-Cola made an impressive debut in Swiss francs on Tuesday with a three tranche deal that matched Shell’s August record-breaker in size.
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BNP Paribas dipped into the US dollar market on Monday, meeting its tier two funding requirement for this year in the process. Jubilant markets on the day enabled the issuer to print with just a 4bp new issue concession.
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Société Générale navigated a change in market sentiment on Tuesday when pricing its latest dollar additional tier one (AT1). Softer markets meant the issuer was forced to offer a premium over rival bank bonds.
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Coty, one of the world’s largest beauty companies and owner of brands including Calvin Klein and Marc Jacobs, is arranging a $1bn term loan 'B'.
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The dollar market has burst into life after post-Fed with three European issuers tapping the currency in two days as the euro market drifts without direction.
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Trading for the Chicago Board Options Exchange's equity volatility futures expanded rapidly in recent weeks as investors girded for a possible rate hike from the Federal Reserve.
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European FIG issuance is expected to resume next week after the Federal Open Market Committee decided against raising interest rates on Thursday. Borrowers had approached the announcement with caution, but steady rates should allow normal trading to resume.
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Bankers are preparing for a torrent of dollar high grade issuance after the US Federal Reserve voted to keep rates on hold on Thursday.
