Credit Suisse
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Piraeus Bank showed the depth of investor demand for high-yielding bank debt this week when it brought the first additional tier one (AT1) out of Greece with one of lowest ratings ever seen in the market. Greek banks are now expected to turn their attention to the minimum requirements for own funds and eligible liabilities (MREL), where green labels and sustainability-linked structures could help them achieve their goals. -
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A trio of foreign banks tapped an attractive Swiss market this week, finding opportunities to top up their well-advanced funding programmes with a bit of pricing arbitrage.
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Piraeus Bank has become the first Greek issuer of additional tier one (AT1) capital, finding enough demand this week to launch a CCC rated deal with a coupon below 9%.
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Kaisa Group Holdings battled a volatile market for Chinese high yield issuers on Tuesday when it kicked off a $280m tap, as news around banks’ exposure to peer property credits rattled investors.
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Hong Kong developer Pacific Century Premium Developments (PCPD) printed a $700m deal on Tuesday as part of its efforts to tender a 2022 bond.
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French insurer Macif is set to issue up to €1.75bn of subordinated debt to fund its coming acquisition of Aviva France.
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Cambodian company NagaCorp navigated the difficulties posed by the closure of its casino to raise $200m on Monday, tackling investor questions and concerns while building up its cash reserves.
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Piraeus is set to become the first Greek bank to print an additional tier one (AT1) bond — the next step in its capital plan after the closing of its €1.4bn equity raise last month.
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American insurer Equitable is set to sell its first funding agreement-backed (FAB) note in euros, almost one year after it launched its FAB programme.
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China Youran Dairy Group and Carsgen Therapeutics Holdings have both rolled out their Hong Kong IPOs.
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Russian gold miner Nord Gold said on Thursday that it wants to launch an IPO on the London Stock Exchange, following a rally in the price of gold since March.
