Sarah Ainsworth

GC View

A man standing outside with money falling all around him

Bond market's party could be nearly over

Primary markets remain in good shape, but they are not firing as well as they were a couple of weeks back

Sarah Ainsworth, March 12, 2024

Senior Debt

NORDEA Bank Vilnius Lithuania. Image shot 2009. Exact date unknown.

◆ Tightest seven year-plus senior non-preferred to be priced in 2024 ◆ New issue premium discussed ◆ Are the days of senior non-preferred pricing flat to curve over?

Sarah Ainsworth, March 11, 2024

FIG

World's oldest bank has 'good story' for senior sale

◆ Monte dei Paschi to make most of recent upgrade ◆ Spread above 200bp lures investors ◆ 'Element of rarity' gives added appeal

Sarah Ainsworth, March 08, 2024

FIG

Rarer FIG issuers have success with unsecured euro deals

Smaller and lower tier bank issuers are enjoying extremely favourable funding conditions, with some able to choose between markets

Atanas Dinov, March 07, 2024

FIG

Nationwide Building Society sign and exterior front of building in Queen Street Cardiff Wales UK KATHY DEWITT. Image shot 04/2013. Exact date unknown.

Nationwide acquisition of Virgin Money expected to push up its funding

◆ Nationwide to grow asset size by a quarter ◆ Affords to pay 38% premium thanks to top ranking CET1 ratio in Europe ◆ Strong rally of Virgin Money bonds suggest acquisition likely to proceed

Atanas Dinov, March 07, 2024

FIG

Floating icebergs in Jokulsarlon glacier lagoon, Iceland.

Nordic issuers sell euro seniors with mixed results

◆ Iceland’s Landsbankinn finds 'insane demand' ◆ Danish Arbejdernes Landsbank ‘slow’ progress blamed on unfamiliar name ◆ Fast money shows price sensitivity to SR-Bank trade

Sarah Ainsworth, March 06, 2024