Senior Debt

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  • Senior trio price tightly in euros

    Senior trio price tightly in euros

    A trio of senior borrowers paid minimal new issue premiums in euros this week as Swedbank and AIB Group tapped a sweet spot of demand for bail-inable debt, while Macquarie got attractive pricing compared to its dollar curve.

  • Amazon wonder-print belies global inflation jitters

    Amazon wonder-print belies global inflation jitters

    E-commerce giant Amazon did the unthinkable this week and printed two year debt just 10bp wide of where investors could buy US Treasuries, the closest a company has ever got to US government debt. But with a high US inflation number sending a shockwave through markets days later, corporate and FIG credit markets are wondering whether they need to brace for a period of panic, write Tyler Davies and Mike Turner.

  • Fed economists warn of ‘regulatory arbitrage’ over IHC rule

    Fed economists warn of ‘regulatory arbitrage’ over IHC rule

    Federal Reserve economists have warned of ‘financial stability’ concerns around the US treatment of foreign banks, after publishing research suggesting that some institutions were hiding assets in branches to escape closer regulatory oversight.

  • Macquarie lands tight in euros

    Macquarie lands tight in euros

    Macquarie shed over a third of its order book on Wednesday as it priced its third euro deal in 18 months at what was deemed a “very tight” level. It was joined in the senior market by Swedbank, which was issuing its first callable non-preferred bond.

  • Barclays hops back into Kangaroos

    Barclays hops back into Kangaroos

    Barclays returned to the Kangaroo bond market this week after being absent for two years to raise A$600m across three tranches of holding company debt. The market was split over which tranche offered the most value in pricing.

  • Chinese financial issuers court dollar buyers

    Chinese financial issuers court dollar buyers

    One of China’s big four banks, Agricultural Bank of China, and securities house Haitong International Securities Group joined the flurry of Chinese bond deals in the offshore market this week.

  • Macquarie to build out euro curve

    Macquarie to build out euro curve

    Macquarie is set to extend its euro curve this week, after mandating banks for its third sale of group level debt in the currency in the last 18 months.

  • Banks hold off issuing amid volatility in equities and rates

    Banks hold off issuing amid volatility in equities and rates

    The financial institutions bond market in euros was on hold on Tuesday, as European issuers saw no reason to rush into doing deals while global equities were selling off and interest rates were being buffeted by expectations of inflation.

  • Barclays preps Kangaroo return

    Barclays preps Kangaroo return

    Barclays is set to end a two year absence from the Kangaroo bond market this week, as it seeks up to three tranches of callable senior debt.

  • Green sheen helps AIB senior print

    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.

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