Tuesday, 24 October 2017

Alice Gledhill' s stories

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  • BFCM

    Wells Fargo fails to rain on BFCM's parade

    Ticker | 16 May 2017

    Wells Fargo and Banque Federative du Credit Mutuel drew almost identical demand as they went head-to-head with similarly rated 10-year deals in the senior market.

  • Logos are seen outside a branch of Barclays bank in London

    Demand for sterling covereds not yet sated

    Ticker | 15 May 2017

    Investors rushed to the £1bn three-year covered FRN from Barclays, placing £2.9bn of orders despite its coming in the wake of two UK peers in the format.

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

    UniCredit rights issue pays dividends in AT1 market

    Ticker | 15 May 2017

    UniCredit’s Additional Tier 1 funding costs have fallen significantly since its last outing in December after a €13bn rights issue in March, laying to rest investors’ nerves around the bank’s capital position.

  • French credits on a post-election roll

    Bonds | 12 May 2017

    French borrowers have poured into the primary market in the wake of Emmanuel Macron’s presidential victory, with SSAs and banks taking advantage of tighter spreads.

  • Reverse Yankees take place in Europe

    Bonds | 12 May 2017

    Reverse Yankees are back on trend in the European bond market as yield-starved investors soak up the latest surge of jumbo transatlantic deals with gusto.

  • Opportunistic Intesa fills its boots in AT1 market

    Bonds | 12 May 2017

    Intesa Sanpaolo returned with its second euro Additional Tier 1 bond in just over four months, riding on the coattails of a stunning debut trade from Banco de Sabadell the previous week.

  • Vivat raises senior to reap RT1 benefits

    Bonds | 12 May 2017

    Vivat last Wednesday issued its first public debt since changing ownership in 2015, but paid a considerable premium over peers to alleviate concerns over the bonds’ structural features and a history of limited disclosure.

  • Channel Tunnel

    Light at the end for Eurotunnel

    Top News | 12 May 2017

    Eurotunnel looks set to slash the cost of its whole business securitisation when it refinances an entire tranche, possibly this week, despite being forced to pay around €500m to unwind associated interest rate swaps.

  • Premium Credit lines up debut ABS

    Ticker | 12 May 2017

    Premium Credit, the UK and Ireland’s leading insurance premium finance company, is lining up a debut securitisation that will be the first of its type issued in the sterling market.

  • VIVAT logo

    Vivat gets over line but fails to tighten

    Ticker | 10 May 2017

    Dutch insurer Vivat made the most of a buoyant market backdrop to sell a €650m seven-year senior unsecured bond, despite concerns around some of the deal’s structural features.