Friday, 20 July 2018

Alice Gledhill' s stories

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  • The Macquarie bank tower in Central Sydney

    Inaugural euro from Macquarie Group struggles

    Ticker | 28 February 2018

    Macquarie Group’s inaugural euro senior unsecured bond priced at the wide end of guidance after drawing tepid demand, reflecting clashing views on pricing and a capricious market backdrop.

  •  A Royal Bank of Scotland branch

    RBS and BBVA offer crucial litmus test in euros

    Ticker | 27 February 2018

    Trades from the Royal Bank of Scotland and Banco Bilbao Vizcaya Argentaria gave a shot of confidence to the European primary market on Tuesday, offering some much-needed reference points after a mixed response to recent transactions.

  • SCOR

    SCOR sizes up euros versus dollars for debut RT1

    Ticker | 27 February 2018

    SCOR could sell the first US dollar-denominated Restricted Tier 1 bond if it chooses that market over euros for its debut transaction in this format.

  • Macquarie Group logo

    Macquarie stalls at guidance, but Credit Agricole flies

    Ticker | 26 February 2018

    Macquarie Group’s first euro senior bond will price at the wide end of guidance after drawing tepid demand, the same day that Credit Agricole’s tightly priced five-year floater flew off the shelf.

  • European banks sell rare Tier 2 as sub heats up

    Bonds | 23 February 2018

    Svenska Handelsbanken pulled ahead of the pack last Friday, selling a €750m 10-year non-call five Tier 2 ahead of competing capital supply expected this week, said to include the first US dollar Restricted Tier 1 bond.

  • Climbers collect mock buns on a tower during a 'bun-scrambling' event as part of the Bun Festival on the tiny island of Cheung Chau in Hong Kong.

    Bun fight for UnipolSai Tier 2 as big slice goes to JLMs

    Ticker | 22 February 2018

    Investors were fighting for allocations in UnipolSai’s €500m no-grow 10-year bullet Tier 2, with some €250m of the €1bn-plus orders due to be placed among the joint lead managers as a matter of priority.

  • A coal stockyard

    Generali to ditch coal bonds in climate change reboot

    Ticker | 22 February 2018

    The board of Italian insurer Generali has approved a new climate change strategy, supporting further investment within the green sector and scaling back its bond investments related to the coal industry.

  • Entrance of the German Commerzbank headquarters is pictured in Frankfurt

    Commerzbank 10-year senior stumbles

    Ticker | 20 February 2018

    Commerzbank’s €500m no-grow senior struggled for momentum and got stuck at the wide end of guidance, calling into question the choice of a 10-year maturity against a fragile backdrop and after a 10bp widening in its outstanding debt.

  • Societe Generale logo

    SG breaks SNP stranglehold with rare Tier 2

    Ticker | 19 February 2018

    Societe Generale sold its first euro Tier 2 bond for three years on Monday, a rare outing in this market from a French national champion since the advent of senior non-preferred in late 2016.

  • Credit investors unperturbed by Basel IV disclosures

    Bonds | 16 February 2018

    European banks are offering investors a glimpse into the potential impact of global regulatory reforms on their balance sheets, though the lengthy phase-in period has left credit buyers markedly relaxed.