Friday, 17 August 2018

Alice Gledhill' s stories

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  • Nationwide building society

    Nationwide lays foundation for senior non-preferred

    Ticker | 25 January 2018

    Nationwide Building Society has launched a consent solicitation on a legacy Tier 2 bond, helping to clear the path for potential issuance of senior non-preferred securities.

  • UBS

    Investors just can't get enough of financial sub

    Ticker | 24 January 2018

    The financials subordinated primary market is firing on all cylinders as investors chase any paper that still offers potential compression, central bank easing having annihilated yield across other parts of the credit market.

  • Sparebank logo

    SpaBol jolts Green covered market awake

    Ticker | 23 January 2018

    SpareBank 1 Boligkreditt offered a rare Green covered bond on Tuesday, a sector that has been slow to take off given the limited environmental regulations and standards for residential collateral.

  • BOI Logo

    BoI covered upgraded as hopes grow for Irish revival

    Ticker | 23 January 2018

    Moody’s upgraded Bank of Ireland Mortgage Bank’s mortgage covered bonds to Aaa from Aa1 on Monday, as hopes grow that Irish lenders will return to the funding markets this year.

  • Berlin Hyp sign is seen on an office building

    Berlin Hyp starts with covered, waiting for senior clarity

    Ticker | 22 January 2018

    Berlin Hyp kicked off its public funding programme for 2018 with a covered bond tap, but the nature of its senior unsecured funding will depend on regulatory machinations in Germany.

  • View of the BPCE banking group headquarters in Paris

    BPCE returns to SNP after removal from GSIB list

    Ticker | 22 January 2018

    BPCE brought its first euro senior non-preferred (SNP) trade since the Financial Stability Board bumped it off the list of global systemically important banks (GSIBs) in November, buying the bank more time to build its loss-absorbing buffers.

  • Credit Agricole Assurances logo

    Rare euro Tier 2 is hot property

    Ticker | 22 January 2018

    Deals from Credit Agricole Assurances and IKB Deutsche Industriebank showed there is plenty of cash chasing bank and insurance Tier 2, with supply in both sectors expected to remain tantalisingly low this year.

  • Intesa buys back €1.7bn of Veneto, Vicenza debt

    Bonds | 19 January 2018

    Intesa Sanpaolo said it would buy back around €1.7bn of government-guaranteed senior notes originally issued by two small regional banks that were placed into liquidation last summer.

  • AT1 sector starts 2018 on a high

    Bonds | 19 January 2018

    Greater numbers of investors are chasing fewer Additional Tier 1 bonds in primary, putting the sector on a rock-solid footing even as signs of weakness emerge in the high-yield market.

  • Arkea bonds widen on 'inevitable' divorce from group

    Bonds | 19 January 2018

    Credit Mutuel Arkea’s bonds shot wider in secondary last week on fears that its separation from Groupe Credit Mutuel is looking increasingly likely.