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Wednesday, 20 June 2018

Alice Gledhill' s stories

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  • Sainsbury shopping trolleys

    Sainsbury's Bank pays 6% yield at Tier 2 checkout

    Ticker | 16 November 2017

    Sainsbury’s Bank’s unrated £175m Tier 2 offered a yield more commonly seen in the Additional Tier 1 sector as it revived a deal it shelved back in 2015.

  • BNP Paribas sign

    BNP Paribas plays catch-up with slew of deals

    Ticker | 16 November 2017

    BNP Paribas was back in the euro market on Thursday with the ink barely dry on two US dollar transactions, announcing in addition a euro Tier 3 to be sold out of insurance subsidiary BNP Paribas Cardif.

  • OP

    OP rides covered wave as broader market drifts

    Ticker | 15 November 2017

    OP Mortgage Bank priced the largest covered bond of the week so far, continuing the sector’s dominance in euro financials primary over recent days as the broader credit market drifts wider.

  • HSBC headquarters

    HSBC to sell TLAC-friendly Sustainable Development Goal bond

    Ticker | 14 November 2017

    HSBC has announced a Sustainable Development Goal bond transaction that will increase its loss-absorbing capacity, a move that recalls Barclays’ inaugural Green bond last week.

  • A Banco de Sabadell branch

    Sabadell springs surprise AT1 on market

    Ticker | 13 November 2017

    Banco de Sabadell priced a €400m perpetual non-call five-year Additional Tier 1 late on Friday, opting for a club deal over a public syndication to reduce execution risk in a weakening market and against a volatile political backdrop in Spain.

  • Six handle clears path for Vivat in Tier 2

    Bonds | 10 November 2017

    Vivat got its first Tier 2 bond away at 6.25%, a sufficiently attractive coupon in a world of shrinking returns to override concerns over the company’s profitability and a lack of transparency around its Chinese parent.

  • VIVAT logo

    Six handle clears path for Vivat in Tier 2

    Ticker | 09 November 2017

    Vivat got its first Tier 2 bond away at 6.25%, a sufficiently attractive coupon in a world of shrinking returns to override concerns over the company’s profitability and a lack of transparency around its Chinese parent.

  • DNB

    DNB prices its tightest ever euro covered

    Ticker | 09 November 2017

    DNB Boligkreditt priced a €1.5bn November 2024 at 9bp through swaps, its tightest ever euro covered bond transaction.

  • Societe Generale headquarters

    Societe Generale SNPs emerge against softer backdrop

    Ticker | 08 November 2017

    Societe Generale offered the only FIG euro deal of the day against a softer market backdrop, taking out €1.5bn of senior non-preferred debt via a dual-tranche trade.

  • Direct Line

    Direct Line could claim first sterling RT1

    Ticker | 08 November 2017

    Direct Line could become the first insurer to sell Restricted Tier 1 debt in sterling, according to market sources, a further sign that the emergent asset class is gaining traction among issuers.