Allianz launched the first subordinated insurance euro benchmark of the year on Friday, a successful €1bn 30 year non-call 10 Tier 2 that took advantage of a window of opportunity between less propitious days to sate ...
Allianz reopens euro insurance sub debt with successful €1bn
Market
Bank and insurance hybrid capital issuance is back on the agenda in Europe, largely due to the rapid central bank largesse that has driven a recovery in financial markets. However, the weight of credit market supply has ...
Bank capital emerges from lockdown, but Fed warns even as its support drives market
Market
The insurance sector’s apparent health entering the crisis has not offered it immunity from the volatility and widening that have struck financial markets, according to André Bonnal, FI syndicate at Crédit Agricole ...
Market ‘wide open’ as insurers outperform banks in rebound
Market
The primary market roared back to life last week on the back of unprecedented concrete support from central banks and governments to counter the economic and financial markets impact of the coronavirus pandemic. Financial ...
Unprecedented stimuli spur rally, supply surge, but pandemic casts long shadow
Market
The AT1 market has reached fever pitch, with investors unable to resist the asset class in the lower-for-longer rates environment, meaning record low coupons are there for the taking for those issuers ready to seize the ...
Italians lead AT1 charge as insatiable demand drives asset class to new heights
Market
Santander on Thursday moved to refinance a €1.5bn 5.481% Additional Tier 1 issue and saw its strategy deliver big savings as clear and consensual execution helped it attract over €10bn of demand to a €1.5bn perpetual ...
Santander strategy pays off as blow-out €1.5bn AT1 reopener delivers refi savings
Market
A €5bn book for an inaugural, €750m RT1 from Ageas on 3 December showed the subordinated insurance sector to be in surprisingly fine fettle going into year-end, as a flurry of deals provided a welcome late encore to the ...
Ageas shows strong insurance bid into year-end
Market
La Banque Postale achieved one of the lowest ever coupons on a euro AT1 with its debut issue on 13 November, a €750m perpetual non-call seven that attracted a peak €3.5bn of demand, but also demonstrated the price ...
La Banque Postale in €750m AT1 milestone
Market
Sumitomo Mitsui Financial Group (SMFG) was able to achieve an attractive size and price when it issued a €1.25bn 10 year senior HoldCo benchmark on 15 October, raising funding some 20bp inside what was available in US ...
SMFG happy with size, price on €1.25bn 10s
Market
