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GC Asia
Latest News
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Wells breaks dollar silence with sustainable debut
Wells Fargo printed its debut sustainability bond this week, finally breaking its year long absence from the senior unsecured dollar market.
13 May 2021 -
Banks embrace three month par calls in new look T2 market
Market participants expect to see the end of “vanilla” deals in the European bank bond market, as tier two debt becomes the latest asset class to embrace call periods over call dates.
13 May 2021 -
Danske tests AT1 as risk assets tumble
Danske Bank set a careful foot into the Reg S dollar additional tier one market this week, in the wake of a difficult trading session for global equities.
12 May 2021 -
Virgin Money blows out after swift return to T2
Virgin Money UK was six times subscribed for a tightly priced tier two in the sterling market on Wednesday, despite having offered a very similar deal to investors last September.
12 May 2021 -
Permanent TSB fills T2 bucket with ‘impressive’ print
Permanent TSB added to a recent run of Irish bank supply on Wednesday, tapping into strong investor demand with a new tier two in the euro market.
12 May 2021 -
Green sheen helps AIB senior print
Allied Irish Banks (AIB) sold its sophomore green bond on Monday, printing €750m of senior paper at a spread flat to fair value and close its Irish peers.
10 May 2021 -
Fitch bumps up Greek bank ratings
Fitch has upgraded its ratings for Piraeus Bank and the National Bank of Greece (NBG) following their successful sales of non-performing assets. With more de-risking to go and a potential additional tier one (AT1) deal on the way, further upgrades could follow.
10 May 2021 -
Nordea lands double digit spread with first euro T2 since 2016
Nordea made a rare entry into the euro tier two market on Monday, taking advantage of strong issuance conditions to steer its pricing in close to fair value.
10 May 2021 -
BIL uses MTN for tier two return in 'standout trade'
Banque Internationale à Luxembourg issued its first tier two capital bond for almost five years this week, opting for a private sale.
07 May 2021 -
Investors drive fledgling green T2 mart
Bank of Ireland and Westpac found strong demand for debut green tier two deals this week, as investors flock to this growing segment of the ESG market in search of higher returns.
06 May 2021 -
Credit investors back new-look Deutsche in AT1 reopening
Deutsche Bank scored a blowout book with its first euro additional tier one since 2014 this week, as investors rewarded the issuer for progress on its turnaround plan. Banco Santander then gave the asset class another shake, with a deal split across euros and dollars.
06 May 2021 -
Westpac follows Bank of Ireland with green T2
Westpac jumped into the green tier two market for the first time on Thursday, finding plenty of demand for the subordinated and labelled combination.
06 May 2021 -
Santander eyes dollars and euros for AT1
Banco Santander was targeting two currencies for additional tier one debt on Thursday, following closely behind a blowout euro deal for Deutsche Bank.
06 May 2021 -
Westpac to wade into growing labelled T2 market
Westpac is set to sell its first green tier two deal later this week, becoming the latest financial name to tap growing demand for labelled subordinated debt.
05 May 2021 -
Deutsche raises €1.25bn with AT1 that was ‘bound to fly’
Deutsche Bank launched its first euro additional tier one (AT1) in about seven years this week, taking advantage of an impressive first quarter performance to raise €1.25bn of capital from €6bn of demand.
05 May 2021
