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◆ Rare format from issuer amplifies trend of UK lenders printing opco debt ◆ Arrives amid demand for debt from national champions ◆ Follows equivalent senior preferred bonds from French banks
Demand hefty, despite being Pekao's second tier two in less than a year
◆ US insurance company prints in Europe for the first time since September ◆ Attains favourable funding versus dollars ◆ Second sterling FABN in less than a week
Data
Recent Unicaja tender and new issue prompts talk of wider adoption of debt management technicque more popular in US market
Banks are well advanced with funding, but spreads could encourage pre-funding of subordinated capital
Europe’s regulator proposes preserving capital requirements while trimming the complexity that hampers cross-border M&A
Europe's regulator seeks to reduce complexity while 'preserving banks' resilience and resolvability'
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Deal is one of 11 forming the ABS pipeline -
More AT1 supply is coming as 2026 already approaches last year's volume
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Ford and Auto1 also priced German auto ABS deals
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◆ Clean-up calls set to change how banks manage senior debt ◆ The Bank of England's SSA bond booster ◆ What is behind booming corporate bond issuance in sterling
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Rare case of cleaning up residue senior debt after tender offer may incentivise other issuers to follow
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Supra bond shows size is available in Swiss francs for digital deals
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Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
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The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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