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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 -
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.
13 May 2021 -
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.
13 May 2021 -
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.
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 -
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.
12 May 2021 -
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.
12 May 2021 -
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.
12 May 2021 -
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.
11 May 2021 -
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.
11 May 2021 -
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.
11 May 2021 -
CS tests dollar market with first deal since Archegos collapse
Credit Suisse Group targeted the dollar market this week for its first public bond offering since the collapse of US hedge fund Archegos. It ended up paying a relatively small new issue premium for its large $3.25bn transaction.
11 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 -
Erste taps ‘strong and supportive feedback loop’ with sustainable debut
Erste Group Bank found success when it paired a sustainable label with the senior preferred format on Friday, attracting a high quality granular order book despite pricing several basis points through fair value.
07 May 2021 -
KB Kookmin Card goes sustainable for dollar debut
KB Kookmin Card raised $300m from its debut in the offshore dollar bond market this week, using a sustainability-labelled deal to add further momentum to the asset class.
07 May 2021
