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Sunday, 23 September 2018

Alice Gledhill' s stories

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  • Danske Bank sub bonds suffer after CEO quits

    Bonds | 21 September 2018

    Danske Bank’s subordinated debt sold off as chief executive Thomas Borgen resigned last Wednesday after a money-laundering scandal relating to €200bn flowing through its Estonian branch between 2007 and 2015.

  • Groupama romps home as mandates stack up

    Bonds | 21 September 2018

    Groupama priced a 10-year bullet Tier 2 around 20bp inside the initial marketing level, having pulled in orders that covered the €500m no-grow bond two and a half times.

  • NatWest Markets, CCDJ hit short-dated sweet spot

    Bonds | 21 September 2018

    There was no evidence of aversion to UK risk when NatWest Markets returned to the euro market, attracting some €3.9bn in orders from over 215 investors, but bankers disagreed over the concession.

  • 'Flipper' hinges on emerging picture of M&G Prudential

    Bonds | 21 September 2018

    Prudential plc is hoping it has painted a clear enough picture of the future M&G Prudential business to entice investors into buying a dual-currency bond that it plans to flip into that entity once the group has split in two.

  • uk dmo

    Phoenix struggles to take flight in euros

    Ticker | 19 September 2018

    Phoenix Group Holdings failed to gather much momentum for its debut euro-denominated Tier 2 transaction after investor caution over the unfamiliar name, its business model and pricing level took their toll.

  • NatWest

    NatWest Markets hits short-dated sweet spot

    Ticker | 19 September 2018

    There was no evidence of aversion to UK risk as NatWest Markets returned to the euro market, attracting some €4bn in orders despite offering as little as 5bp in concession at the final level.

  • A man walks past a Danske bank branch in Riga

    Danske Bank sub bonds weaken after CEO quits

    Ticker | 19 September 2018

    Danske Bank’s subordinated debt sold off as chief executive Thomas Borgen resigned on Wednesday in a money laundering scandal relating to €200bn flowing through its Estonian branch between 2007 and 2015.

  • NN Bank logo

    NN Bank CPT covered lands 1bp inside NIBC

    Ticker | 18 September 2018

    NN Bank’s €500m 10-year conditional pass-through covered bond priced 1bp inside NIBC’s similar trade from two weeks ago, but the prospect of higher risk-weightings continues to hang over the sector.

  • A man walks out from a branch of Spain's second-largest bank BBVA in Madrid

    BBVA shrugs off Turkish troubles to price through 6%

    Ticker | 18 September 2018

    BBVA was inundated with demand for its latest Additional Tier 1 transaction, taking advantage of the improvement in its funding costs after Turkey - to which the bank is exposed - raised its main policy rate last week to ease immediate concerns over lira.

  • Prudential offices in central London

    M&G Prudential to hold around £3.5bn of sub debt

    Ticker | 17 September 2018

    M&G Prudential is expected to hold around £3.5bn of subordinated debt following its proposed demerger from Prudential plc, according to a company statement on Monday.

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