Santander
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◆ First euro AT1 for more than two months as Santander, other G-Sibs went for cheaper dollars ◆ Non-national champion status makes it 'not straightforward' execution ◆ Ongoing strong bid for yield -
Issuance opportunities abound across capital stack but borrowers said to be happy to wait for deeper liquidity
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The Spanish lender is looking to buck the trend among European banks that have tried and failed to build a sustainable presence in US investment banking
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◆ Fourth deal in a little over a week will add to $6.5bn of AT1 issuance ◆ Comes just a day after Barclays garnered huge response for its tightly priced trade ◆ Santander seen focusing on achieving lower yield
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Former IB co-CEO to join as vice-chair of corporate and investment bank
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US bank’s $6bn two-part opco/holdco deal, joined by Santander and Standard Chartered Yankees, pushes October FIG volume to $54bn
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The bank has been on a hiring spree of late
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Hiring spree of Credit Suisse alumni continues
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Spanish issuer attracts €2.3bn book as bankers emphasise borrowers shifting to dollar market
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Agency issuers appeared after the EU cleared a €7bn syndication
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◆ Spanish bank finds 'good window' to pre-fund ◆ Pays just 10bp NIP for 4NC3 and eight year SNP ◆ Longer tranche is more popular
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