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Wednesday, 18 October 2017

Alice Gledhill' s stories

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  • Smooth entry for CM Arkea, but SNP not yet of age

    Bonds | 26 May 2017

    Credit Mutuel Arkea bypassed a roadshow for an inaugural senior non-preferred bond issue last week, a sign of growing familiarity among investors, though plenty of challenges still lie ahead for the emergent asset class.

  • BPER swallows 5.125% coupon in wholesale market comeback

    Ticker | 25 May 2017

    BPER Banca demonstrated the premium demanded of smaller Italian lenders in the wholesale market, following a crackdown on bond sales to retail investors, historically an important source of funding for the sector.

  • NN Group logo

    Starved insurance market feasts on NN’s dual-trancher

    Ticker | 24 May 2017

    NN Group made the most of limited senior insurance supply, bringing a heavily oversubscribed dual-tranche transaction to refinance the €900m bridge loan it took out to buy Delta Lloyd.

  • Rabobank

    Long-awaited Rabobank goes down a storm

    Ticker | 24 May 2017

    Rabobank made a triumphant entry to the covered market on Monday, setting up a new source of attractive funding and re-engaging with key investors.

  • The Millennium BCP flag and the Portugal flag are seen at the bank headquarters in Lisbon

    BCP revives covered programme on comeback trail

    Ticker | 24 May 2017

    Banco Comercial Portugues capitalised on a sunnier backdrop for the country’s banking sector to sell its first public euro covered since 2009, the latest chapter in its return to health.

  • Credit Mutuel Arkea

    Arkea sells debut SNP in euro funding flurry

    Ticker | 23 May 2017

    Credit Mutuel Arkea is selling its first senior non-preferred bond to boost its stack of bail-in-able debt, offering some diversification in an asset class that the major French lenders have dominated.

  • MOVES-BNP Paribas poaches two Goldman credit traders

    Ticker | 23 May 2017

    BNP Paribas has boosted its credit trading team with two hires from Goldman Sachs, according to a market source.

  • Rabobank

    Rabo delivers blowout debut euro covered

    Ticker | 22 May 2017

    Rabobank has made a triumphant entry to the covered market, one of the last major banks to initiate a programme but unusually tackling two tranches on its inaugural outing.

  • Italy's largest bank UniCredit is pictured in downtown Milan

    UniCredit overhaul pays dividends on AT1s

    Top News | 19 May 2017

    UniCredit has taken another step on its long road to rehabilitation, pricing its first public Additional Tier 1 trade in almost three years, in a signal that capital concerns have been laid to rest after a top-to-bottom overhaul of the struggling Italian bank.

  • FIG issuers keep dancing as music plays on

    Bonds | 19 May 2017

    Familiar and esoteric financial issuers alike have capitalised on blistering conditions to load up on debt, but the fast and furious rally of recent weeks is forcing market participants to question just how long the good times can roll.