Helene Durand' s stories
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Credit Suisse gets huge book for AT1s
Credit Suisse Group took full advantage of an open window on Monday to price Additional Tier 1 bonds substantially tighter than initial price talk on the back of an US$11.2bn order book.
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Credit Suisse whacks on hefty premium for AT1
Credit Suisse Group is leaving nothing to chance to get its Additional Tier 1 away, offering 75bp-100bp of new issue premium as it hopes to avoid the underperformance of others in an asset class that has experienced some tough times of late.
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Sea change as Atlantia turns to loans
Unpredictable and expensive bond markets proved too much of a risk for Atlantia and the Italian company kicked plans for a new issue into touch, turning instead to the loan market to complete its portion of the financing of the Abertis acquisition.
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Banks find deep pockets in 10-year
La Banque Postale and Credit Agricole found deep pockets of investor demand for their 10-year deals last week, a reassuring sign for financials wanting to extend duration in what remains fiendishly difficult to navigate markets.
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'Greenium' unproven but demand abounds
The concept of whether issuers can extract a premium for green products remains in debate, but a trio of SSA issuers can point to swollen order books as proof of robust demand for the format.
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Fear stalks the market once again
Stubbornly difficult markets that have been the hallmark of 2018 are showing few signs of improvement, and after another week of tricky conditions, optimism in the European bond market is thin on the ground.
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Novo Banco silences naysayers, but at a significant cost
Novo Banco priced a €400m Tier 2 bond issue last Friday, but the 8.5% yield – the highest for any euro subordinated bond sold this year – reflects the level of investor caution that still surrounds one of Europe’s weakest lenders.
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Novo Banco encroaches on AT1 zipcode with minimum 8.5% yield
Novo Banco is close to pricing a Tier 2 bond, but the 8.5% minimum yield - the highest for any euro subordinated bond sold this year - reflects the level of investor caution that still surrounds one of Europe’s weakest lenders.
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Novo Banco set for crucial market test
Novo Banco is hoping to sell a €400m Tier 2 bond in what would be the biggest capital markets test for the beleaguered Portuguese lender since a rescue package agreed in 2017.
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Green gives issuers the edge in tough markets
Inaugural Green bonds from Landesbank Baden-Wuerttemberg and KBC Group received a rip-roaring response from investors, helped by their green nature that proved to be an added selling point against a tougher market backdrop.
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