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  • ECA invites EU legislators to address ‘shortcomings’ in bank crisis rules

    ECA invites EU legislators to address ‘shortcomings’ in bank crisis rules

    The European Court of Auditors published an assessment of the EU’s crisis management framework this week. It urged policymakers to align national insolvency procedures with bloc-wide resolution rules, as a way of making sure that banks are treated consistently when they fall into financial difficulty.

  • RBC keeps it tight after super-subs cash in

    RBC keeps it tight after super-subs cash in

    Royal Bank of Canada priced its first bond issue of the year as Yankee borrowers made the most of good funding conditions in the run-up to US bank earnings season.

  • DZ Bank cleans up legacy tier ones

    DZ Bank cleans up legacy tier ones

    DZ Bank said this week that it will redeem eight tier one bonds issued out of special purpose vehicles, in preparation of the EU’s Capital Requirements Regulation transition period ending.

  • Banco BPM lands new AT1 on top of IPTs

    Banco BPM lands new AT1 on top of IPTs

    Banco BPM was unable to tighten through initial price thoughts for a new additional tier one on Tuesday, as it looked to maximise its regulatory allowance for the asset class.

  • Zurich attracts strong demand on dollar sub debt return

    Zurich attracts strong demand on dollar sub debt return

    Zurich Insurance Company attracted plenty of demand in dollars on Tuesday, as it sold first subordinated dollar trade in over two years — a deal that could fund its acquisition of Metropolitan Life’s US property and casual business.

  • Abanca optimises capital structure with new AT1

    Abanca optimises capital structure with new AT1

    Spain’s Abanca sold the year’s first subordinated deal in euros on Thursday, when it issued a perpetual non-call 5.5 year additional tier one (AT1) bond to help optimise its capital structure.

  • Yankees storm dollar barricades

    Yankees storm dollar barricades

    Yankee issuers stormed into the US dollar market to lock in record low levels of funding, despite this week’s turmoil in Washington, DC.

  • Household names pave way for rarer FIG borrowers

    Household names pave way for rarer FIG borrowers

    A pair of senior non-preferred bonds from Swedbank and Société Générale on Tuesday followed Monday’s opener from ING. With three household names now having established pricing points, rarer borrowers are starting to fill the pipeline.

  • 2020 hindsight: bank finance

    2020 hindsight: bank finance

    After a remarkable year, GlobalCapital reflects on some of the most important stories in the bank finance and covered bond markets of 2020.

  • FIG deals shine brightly in dark year

    FIG deals shine brightly in dark year

    Nobody will forget 2020 in a hurry. It was the year in which a coronavirus pandemic swept across the globe, created economic chaos and forced central banks into swift action. The resulting measures helped to underpin financial markets, bringing yields from record highs in March to record lows in December. But the outlook has always remained uncertain for banks and insurance companies, whose balance sheets are yet to feel the full impact of the crisis. In such a testing year, GlobalCapital wanted to reward the bond deals that achieved stand-out results for issuers — in terms of pricing, execution and timing. The winners are presented here.

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