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Wednesday, 20 March 2019

Helene Durand' s stories

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  • Fireworks

    Blockbuster day for bank capital

    Ticker | 19 March 2019

    European banks have taken the market by storm and are set to print over €3.4bn of subordinated debt, making Tuesday by far the busiest day for bank capital issuance in the single currency since the start of 2019.

  • BNP Paribas

    BNP Paribas takes the baton in Yankee AT1

    Ticker | 19 March 2019

    BNP Paribas raised US$1.5bn from its first Additional Tier 1 deal of the year on Monday, and paid only a small new issue concession thanks to a strong tone that continues to underpin credit markets across the globe.

  • BAWAG P.S.K. logo is pictured at a branch office in Vienna

    Bawag set sights on Tier 2 comeback

    Ticker | 18 March 2019

    Bawag is to return to the Tier 2 market for the first time since 2013, adding another chapter in the bank’s recovery story following an Additional Tier 1 transaction in 2018.

  • BNP Paribas draws strong demand in nervy market

    Bring them and they will buy, BNPP takes AT1 baton

    Ticker | 18 March 2019

    Demand for BNP Paribas’ first Additional Tier 1 of the year has reached US$7.6bn, helped by the strong tone that continues to underpin credit markets across the globe.

  • Montepio

    Strong markets embolden Montepio to revive Tier 2

    Ticker | 15 March 2019

    A sea-change in market conditions has given Banco Montepio the impetus to revive a Tier 2 deal which stalled in the middle of 2018.

  • African Development Bank (AfDB) headquarters

    Concession, what concession? SSA market keeps on roaring

    Ticker | 14 March 2019

    The relentless erosion of new issue concessions in the euro SSA market was plain to see on Thursday when the African Development Bank brought a 10-year benchmark in line with fair value.

  • UK and EU flags

    Ready, steady, hang on. Brexit moves on hold

    Top News | 08 March 2019

    “Will more than half your European clients be in the 27 remaining EU member countries after Brexit? Okay, you need to move to Frankfurt.”

  • Canary Wharf in London

    As Brexit fears ease, UK banks make their move

    Top News | 08 March 2019

    HSBC, Lloyds and CYBG finally brought an end to a drought in senior and subordinated bond supply from UK banks last week, raising just over £4.3bn-equivalent with deals that were welcomed by investors.

  • BFCM

    BFCM turns heads with debut SNP

    Ticker | 06 March 2019

    Banque Federative du Credit Mutuel made a faultless entry into the senior non-preferred market on Wednesday, bringing a heavily oversubscribed €1bn trade that seized on investors’ appetite for duration.

  • Lloyds

    UK banks seize sentiment U-turn

    Ticker | 05 March 2019

    Lloyds Banking Group raised US$1bn from its first senior bond deal of the year on Tuesday amid a better bid for UK bank bonds by investors in recent weeks.

  • Credit Mutuel Arkea

    Arkea eschews more expensive callable for Tier 2 return

    Ticker | 04 March 2019

    Credit Mutuel Arkea forwent the flexibility of a callable structure for a bullet structure, a cheaper way of raising capital as the focus on extension risk spreads beyond the Additional Tier 1 asset class.

  • NatWest

    MOVES-Finlayson to join NatWest

    Ticker | 04 March 2019

    Kerr Finlayson will join NatWest Capital Markets’ syndicate desk, market sources have told IFR.

  • Santiago de Compostela's famous Gothic cathedral

    Galicia preps bond comeback as markets return to normality

    Ticker | 27 February 2019

    The Autonomous Community of Galicia is preparing to access the bond market for the first time since 2014 as the cheap financing previously offered by the government comes to an end.

  • Passers-by walk in front of a branch of French bank Credit Agricole in Marseille

    Credit Agricole ticks all the boxes in undersupplied 10-year sector

    Ticker | 25 February 2019

    Credit Agricole underlined the bid for longer-dated assets in the European market, bringing a heavily oversubscribed 10-year senior non-preferred with no new issue premium as the balance of power tilts further in issuers’ favour.

  • France locks in record low yield on unprecedented demand

    Bonds | 22 February 2019

    The Republic of France locked in a record low yield for its first 30-year benchmark since 2017, a €7bn trade that was helped by investor demand that has proved to be virtually insatiable since the start of 2019.

  • Credit Agricole offers AT1 amid peers' headline risk

    Bonds | 22 February 2019

    Credit Agricole failed to push pricing as tight as expected after negative headlines around peers softened appetite for its AT1 issue – a product that has seen renewed demand of late.

  • Swedish flag/reuters

    Sweden draws in crowds despite tight Treasury print

    Ticker | 21 February 2019

    The Kingdom of Sweden made a triumphant return to the US dollar market after a year’s absence, bringing a US$2bn 2.5% three-year at one of the tightest spreads against Treasuries ever achieved by the issuer and other SSA borrowers.

  • The headquarter of the European Bank for Reconstruction and Development (EBRD) is seen in London

    EBRD smashes own sterling record with second Sonia floater

    Ticker | 21 February 2019

    European Bank for Reconstruction and Development, which only reluctantly adopted issuance linked to Sonia in January, was back for a second helping on Thursday, smashing its own record in sterling with an £800m trade.

  • Norway

    Norway plots syndicated return

    Ticker | 21 February 2019

    Kingdom of Norway is planning a return to the syndicated market, less than a year after using the method for the first time.

  • Rentenbank logo

    Investors unfazed by eye-watering SSA prints

    Ticker | 21 February 2019

    It was Groundhog Day in the SSA market on Thursday as Rentenbank and the Federal State of Schleswig-Holstein landed bumper books for their trades despite eye-watering pricing levels.

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