Alice Gledhill is a reporter covering bank and insurance debt with a focus on the primary market. She also writes regularly about banking regulation. She joined IFR and IFR Markets in 2014.
The European Parliament’s official line on amendments to the creditor hierarchy is set to take some of the region’s largest banks a step closer to being able finally to build layers of loss-absorbing debt.
The wider subordinated bank bond market brushed off Bremer Landesbank’s well-flagged decision to cancel its Additional Tier 1 coupon payments, with Raiffeisen Bank International announcing a debut deal just days later.
Nationwide Building Society revived a 15-year covered bond that fell flat in February, paying a minimal new issue premium after wiping 10bp off what some deemed an overly generous starting point.