BBVA
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In a dramatic and unprecedented turn of events on Wednesday, Spain went from being on track to attract the biggest ever order book for a bond issue to losing more than half of its orders, as it slashed the spread of its new 10 year syndicated bond, leaving either a negative or very skinny new issue premium. -
NorteGas, the Spanish gas distribution company, won strong demand from investors on Thursday, despite syndicate bankers worrying that the market was softening.
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Banco Sabadell cut a lone figure on Friday as it ventured out into a quieter market to print a €500m tier two — its first bond since the proposed merger with BBVA fell through last November,
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ING kicked off the financials market in euros on Monday, as the Dutch bank looked to extend out its callable curve at a holding company level, and with minimal new issue premia on offer, a slew of deals is set to follow.
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Bank capital has gone back under the microscope during the coronavirus pandemic, with policymakers asking themselves whether the Basel III rules can work as intended. Tyler Davies reports.
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Two banks landed tight with environmental, social and governance (ESG) themed deals this week: Crédit Agricole settled at a record low on its social bond debut, while DZ Bank came even tighter with its first senior non-preferred green bond.
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Crédit Agricole landed at an extremely tight level on Wednesday morning as it made its social bond debut with a seven year senior non-preferred deal, following in the footsteps of last week's near zero yield print from Svenska Handelsbanken.
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The UK’s SSE Renewables and Norway’s Equinor, two energy companies, have signed what lenders say is the largest ever offshore wind project financing, a £5.5bn package for a wind farm off the UK coast.
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Banco de Sabadell’s debt securities took a nose-dive in the secondary market on Friday morning, after the Spanish lender said that it had failed to agree on the terms of a merger with BBVA.
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Peru grabbed the bond market’s attention on Monday with a $4bn triple-tranche issue including a 100 year bond despite the country being on its third president this month. But the country’s public treasury director said it was the all-in yield, not the desire to make headlines, that drove Peru to become the fourth Latin American borrower ever to sell a century bond.
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The banking landscape in Spain and the UK is set to change, amid pressure on banks' profitability, after a flurry of announcements this week.
