◆ Good capital issuance window for smaller UK financial institutions ◆ Both use liability management to refi ahead of calls ◆ Close Brothers paying hefty coupon due to heavier motor finance exposure
◆ Issuer nearly halves funding cost from April 2024 capital debut... ◆... close to larger competitors' spreads ◆ New deal strengthens its bail-in debt layer and ratings
◆ Three European lenders hit a busy Friday market with senior bonds ◆ OP Corporate Bank prints the largest of these in a two-part dual-format structure ◆ Once-a-year issuer Iccrea Banca lands at sub-100bp
