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Monday, 23 October 2017

Helene Durand' s stories

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  • Senior opco out of favour as investors look for spread

    Bonds | 03 March 2017

    ASB Finance and SpareBank 1 SMN struggled to sell operating company senior paper last week, as a combination of oversupply, appetite for yieldy assets and moving swap spreads converged to curtail investor appetite.

  • Bankia ends Tier 2 lacklustre spell

    Bonds | 03 March 2017

    Bankia sharply tightened pricing on its first Tier 2 issue since May 2014, profiting from exceptional demand uncovered during the deal’s execution, in sharp contrast to most of the subordinated bank order books in 2017.

  • Employees of ING group take a break in front of their office in Amsterdam

    ING opens Netherlands senior TLAC market with a bang

    Ticker | 02 March 2017

    ING Groep found ample demand for its debut TLAC-compliant senior bond on Thursday, the first from the Netherlands, as it sets out to chip away at a €10bn–€15bn shortfall of loss-absorbing debt.

  • Bankia

    Bankia ends Tier 2 lacklustre spell

    Ticker | 02 March 2017

    Bankia sharply tightened pricing on its first Tier 2 since May 2014, profiting from exceptional demand uncovered during the deal’s execution, in sharp contrast to most of the subordinated bank order books in 2017.

  • RBS

    Strong response for RBS holdco return

    Ticker | 01 March 2017

    Royal Bank of Scotland garnered over €4.25bn of demand for its first holding company trade in euros in a year, a transaction that was also the first fixed-to-floating callable from a UK bank in the single currency.

  • sweden US$ bond

    Sweden lifts lid on MREL framework

    Ticker | 23 February 2017

    Swedish banks will need to raise just under €53bn-equivalent of loss absorbing debt in the next five years, the Swedish National Debt Office said on Thursday as it unveiled its framework to end too-big-to-fail in the country.

  • EFSF

    High stakes for EFSF bond sale

    Top News | 17 February 2017

    The European Financial Stability Facility will this week have to grapple with widening spreads and a volatile backdrop for its third – and potentially most difficult – bond sale of the year.

  • Logo of Triple A rated Rabobank

    Rabo joins list of contenders for SNP, fleshes out covered plans

    Ticker | 16 February 2017

    Rabobank could opt to issue senior non-preferred debt as a way of tackling requirements for banks to hold layers of loss-absorbing debt, putting it on an equal footing with other European lenders but at odds with country peer ING.

  • Nationwide

    Nationwide finds takers for covered sevens, but 15s fall flat

    Ticker | 16 February 2017

    Nationwide Building Society found over €1.6bn of demand for the first UK covered bond in euros since early January, but plans to extend its curve with a 15-year tranche did not pan out. 

  • Logo of the European Financial Stability Facility (EFSF)

    EFSF back for more after damp squib

    Ticker | 15 February 2017

    The European Financial Stability Facility is seeking to access the market for the third time this year, chipping away at a €40bn funding programme as it faces spiralling funding costs.