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Thursday, 14 December 2017

Helene Durand' s stories

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  • Banks face US$340bn state-backed bond refi hole

    Ticker | 24 August 2011

    Banks will struggle to refinance the upcoming mountain of government-guaranteed debt that is due to mature in the next two years unless the primary market fully thaws in the coming weeks, according to bankers and investors. Banks had planned to aggressively use the autumn period to get ahead of large refinancing requirements in 2012. Thomson Reuters data show that the US$230bn equivalent of European bank government-guaranteed debt will mature in 2012 and US banks will have more than US$122bn maturing.

  • helaba bonds

    ​Attractive pricing lures Helaba to public market

    Capital City | 19 August 2015

    Competitive funding levels lured Landesbank Hessen-Thueringen to print its first senior public benchmark in years, a €1bn two-year FRN that attracted €1.1bn of demand.

  • Direction uncertainty with a landscape of confused tangled roads

    ​Bail-in uncertainty

    All Special Reports | 16 October 2015

    European banks’ funding costs could rise, with new EU bank laws seemingly giving depositors preference over senior bondholders

  • The logo of the Financial Conduct Authority (FCA)

    ​FCA targets syndication and reciprocity

    People & Markets | 26 June 2015

    The UK’s Financial Conduct Authority has hit the industry with a request for thousands of details relating to recent bond and equity deals as part of an investigation into how banks make up underwriting syndicates as well as how they advise on mergers and acquisitions.

  • Bank of America Merrill Lynch

    ​FICC job cuts are back on the menu at BAML, Goldman

    People & Markets | 04 March 2016

    Bank of America Merrill Lynch is expected to begin long-planned staff cuts in its fixed income commodity and currencies group this month, according to people familiar with the matter.

  • People walk in front of the Banca Popolare di Milano in Milan

    ​P&M: Bank bond investors should fear fast-tracked EU bail-in

    Capital City | 12 December 2013

    European Union plans to force bond investors take their share of losses in failing banks by 2016 could risk undermining appetite for bank debt and make it more difficult for weaker lenders to fund themselves, credit market experts said.

  • Spanish flag

    ​Spanish bank Tier 2 not so Popular

    Ticker | 08 June 2017

    Smaller banks in Spain saw their subordinated debt sell off on Thursday in the aftermath of the Banco Popular resolution, with cash prices dropping by multiple points.

  • "Bid only for banks" as anything goes

    Ticker | 11 May 2017

    Mediobanca, Santander UK and JP Morgan were able to aggressively revise guidance on senior deals on Thursday as seemingly insatiable demand for bank paper fuelled order books, propelling volumes to their biggest since January.

  • Zuercher Kontonalbank

    "Unique" ZKB paves way with FINMA compliant hybrid

    Ticker | 13 January 2012

    Triple A rated Zuercher Kantonalbank is planning to price the first public new style hybrid Tier 1 issue in Europe as soon as next week, having mandated itself and UBS for the perpetual non-call 5.5-year deal. (* Correction appended)

  • 2i Rete goes straight to bonds for M&A refi, but demand wanes

    Ticker | 24 October 2017

    Italian energy company 2i Rete Gas has cut to the chase, skipping the loan stage and heading straight for bonds to finance its acquisition of two local businesses from Spain’s Gas Natural Fenosa.

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