BBVA

Amadeus, the Spanish company that provides IT systems to the air travel industry, reaped the rewards of patience on Tuesday after sitting in the pipeline for five weeks as its €500m six year no-grow bond brought in an order book of over€4.75bn.

Iberdrola, the Spanish electricity company, raised €500m of cheap funding on November 6 with an equity-neutral convertible bond, partly as a response to the recent disruption in the straight bond market.

It’s not just financial institutions wrestling with extra layers of regulatory complexity. As the banking system moves from bail-out to bail-in, the buyside is finding it increasingly difficult to make investment decisions. What do investors really think about bank debt? Tyler Davies reports.

The head of corporate syndicated lending for EMEA and Asia at BBVA retired from the bank on Friday.

The Financial Stability Board made three changes to its list of global systemically important banks (G-SIBs) on Tuesday.

Latin American sovereigns’ march back towards European bond markets continued on Tuesday as Peru achieved its lowest ever coupon on an international bond with its long 10 year. But opinion is split on the value of the euro market.

European and US banks paid up this week as they unleashed a torrent of dollar supply amid improving market conditions.

Global markets are looking more settled and, in spite of little supply this week, bankers suggest that a FIG market reopening trade is imminent.

Santander and BBVA both looked to the dollar market to secure senior funding on Tuesday amid a bare session for European FIG issuance.

Covered bond issuers failed to take heed of poor market conditions and, just like lemmings, followed one another with poorly performing deals this week.

Kuxtabank this week issued the first Spanish covered bond backed by loans with an environmental, social and governance remit, and the first peripheral 10 year since March.

Chris Hewitt, formerly head of global syndicate at Sberbank CIB, has resurfaced at BBVA as a corporate syndicate manager.