post image
The Additional Tier 1 market came of age on 8 November as BBVA launched a new $1bn issue, the proceeds of which could go towards the first refinancing of an AT1 benchmark, while Nordea set a coupon low later in the month to ...

AT1 comes of age with BBVA, Nordea sets record

Market

post image
Crédit Mutuel Arkéa took advantage of exceptional market conditions for Tier 2 debt to sell a EUR500m 12 year non-call seven issue on 18 October that attracted more investors to the credit than ever before, while being ...

Crédit Mutuel Arkéa beats expectations in Tier 2

Market

post image
Prudential revived the fixed-for-life format for insurers on 17 October with a $750m perpetual non-call 5.25 Tier 2 issue that attracted over $2.5bn of demand, with strong Asian take-up despite the coupon coming inside the ...

Pru $750m revives fixed-for-life, Vivat follows in Reg S

Market

post image
Jyske Bank issued its first euro Additional Tier 1 (AT1) on 14 September, a EUR150m (DKK1.12bn) perpetual non-call 10 issue that attracted EUR775m of orders and was priced with the lowest coupon for a euro AT1 from the ...

Size no obstacle as ‘fun’ Jyske euro AT1 first sells out

Market

post image
United Overseas Bank (UOB) sold its latest Additional Tier 1 (AT1) transaction outside its domestic currency on 11 October, a US$650m perpetual non-call six transaction that achieved the tightest ever re-offer spread for ...

UOB hits tight, diversifies bid in $650m AT1

Market

post image
Sumitomo Mitsui Financial Group became the first Japanese issuer to sell a green bond in accordance with Ministry of the Environment guidelines on 4 October, and SMFG officials said the move highlights a growing focus on the ...

SMFG debuts Japan Guidelines in green TLAC euro first

Market

post image
Volksbank Wien was able to upsize its first capital markets transaction from Eu300m to Eu400m yesterday (Thursday), as its 10NC5 Tier 2 trade attacted more than Eu850m of demand from over 150 accounts, demonstrating ...

Volksbank Wien Tier 2 debut a searing success in red hot mart

Market

post image
Bankia on 6 July launched its inaugural Additional Tier 1 and the first Spanish AT1 since Banco Popular sub debt was wiped out a month earlier, a EUR750m deal that achieved tight pricing on the back of as much as EUR3.5bn of ...

Bankia AT1 debut flies in post-Popular test, CaixaBank in T2

Market

post image
In the early morning hours of 7 June joint statements from the European Central Bank, Single Resolution Board and European Commission announced the decision that Banco Popular Español had been determined as “failing or ...

After Popular test, investors ask: what recovery value?

Market