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Crédit Agricole SA (CASA) achieved a participation rate of around 80% in a novel one-for-one exchange offer for holders of a £500m (€582m) Additional Tier 1 in June, with the majority of investors keen to switch from a ...

CASA £500m AT1 exchange beats expectations

Market

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Groupama sold its inaugural green bond on 30 June, a €500m seven year Tier 3 transaction whose sustainable nature helped the French insurer achieve tight pricing, while Generali built on its prior green issuance with a ...

Groupama goes green in T3, Generali adds to ESG

Market

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Crédit Agricole SA (CASA) on 20 May launched a novel one-for-one exchange offer for holders of its £500m (€582m) perpetual non-call June 2026 grandfathered Additional Tier 1 instrument, seeking to replace it with a fully ...

Crédit Agricole £500m AT1 exchange tackles Libor, CRR issues

Market

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With rates markets having stabilised after a bout of uncertainty, the US credit market last week experienced renewed momentum, allowing an array of European banks to achieve stronger outcomes than available in a more ...

Dollar bank capital hits new highs as rates stabilise, overshadowing cautious euro mart

Market

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Last week was the busiest of 2021 for subordinated insurance issuance, as AIA, Axa and CNP Assurances hit the market with benchmark trades, with the sector having this year proven stable against the backdrop of rates ...

Resilient credit market sets stage for burst of sub insurance hits from AIA, Axa, CNP

Market

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MünchenerHyp issued its first senior non-preferred euro benchmark on Wednesday, a €500m eight year deal that is also its first senior green bond, with the German bank moving to take advantage of persistent demand in ...

MünchenerHyp begins benchmark SNP journey with green first

Market

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Deutsche Kreditbank (DKB) became the first bank to sell a euro-denominated senior preferred bond at a negative yield on Monday, after attracting €1.2bn of orders to a €500m five year issue that is the first deal to be ...

DKB breaks senior preferred negative yield ‘taboo’ with GBS first

Market

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The euro primary market last week recovered from a lacklustre opening, with financial institutions now able to take advantage of a severe supply-demand imbalance and benign conditions, and subordinated instruments finding ...

Primary execution improves after subdued New Year start, as supply collapse hits home

Market

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Bank of East Asia (BEA) issued an almost five times subscribed $650m perpetual non-call five AT1 yesterday (Wednesday), in the latest sign the Asian market is again proving conducive to bank capital after a bout of ...

Bank of East Asia confirms renewed Asian AT1 strength

Market