Friday, 20 July 2018

Alice Gledhill' s stories

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  • Goldman Sachs sign

    Goldman Sachs ends four-year hiatus in sterling

    Ticker | 18 July 2018

    A four-year absence and a healthy concession helped Goldman Sachs notch up a £2bn-plus book in the sterling sector on Wednesday, the second US bank to visit the European market this week.

  • BPM

    Back-up in Italian funding costs continues with BPM

    Ticker | 18 July 2018

    Banco BPM ventured into the market to sell the fourth Italian covered this month, but each deal has priced up to 15bp wider than the last to twist the arm of investors spooked by the political backdrop and limited performance.

  • Investec overhauls Tier 2 via tender, new issue

    Investec overhauls Tier 2 via tender, new issue

    Ticker | 17 July 2018

    Investec Bank bolstered its Tier 2 capital with a £420m 10NC5 transaction on Tuesday, part of a broader exercise that also took out £267m of a costly legacy bond that carries a 9.625% coupon.

  • The stimulus connection

    FIG market flares back into life

    Ticker | 17 July 2018

    Three banks raised €3bn of euro funding on Tuesday, a burst of activity in what is likely to be a quiet week with the majority of European borrowers in blackout.

  • Rabobank

    Moody's rates Rabobank SNP, door open for issuance

    Ticker | 16 July 2018

    Moody’s has assigned an A3 rating to Rabobank’s senior non-preferred programme just days after the Dutch Ministry of Finance indicated banks could issue this asset class prior to a full legal framework being enacted.

  • Canadian banks seize window ahead of rule change

    Bonds | 13 July 2018

    Canadian banks led the charge for financial institutions last week, raising over US$7bn-equivalent in the euro and US dollar markets, taking advantage of one of the last windows to issue old-style senior before TLAC rules come into force in the country.

  • TD Bank branch

    TD euro senior surprises to upside

    Ticker | 12 July 2018

    Toronto-Dominion Bank took a €1.5bn chunk out of the senior market on Thursday, likely to be one of the last bonds issued by a Canadian lender before bail-in regulation is introduced this September.

  • A shop decorated with Portuguese flags

    Banks forced to share the dance floor

    Ticker | 11 July 2018

    Supply came to an abrupt halt on Wednesday after banks front-loaded a combined €8bn in just two days, reflecting borrowers’ increasing opportunism in the face of fleeting issuance windows.

  • Bper bank logo is pictured downtown Milan

    Tough going for BPER as OBGs bleed wider

    Ticker | 10 July 2018

    BPER Banca’s €500m no-grow five-year highlighted the difference in demand for covered bonds issued by Italian national champions and smaller lenders against a still fragile market and political backdrop.

  • Deutsche Bank

    MOVES-Harding leaves Deutsche Bank for Athora

    Ticker | 09 July 2018

    Chris Harding has left Deutsche Bank’s debt capital markets business, according to a source familiar with the matter.

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