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Buoyed by the return to investment grade of the Hellenic Republic, Greek issuers have been given an increasingly warm welcome by investors across asset classes. In Athens on 29 February, Crédit Agricole CIB syndicate, DCM, ...

Return towards IG: Today’s FIG landscape a promising stage for next Greek adventures

Q&As

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Going into the final week of January, the primary market for financial institutions issuance is still buoyant, undeterred by rich valuations and the potential for repricing, as ample liquidity and the big picture of rates ...

Primary defies concerns as investors lap up FI supply, driving spreads and NIPs tighter

Market

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Insurance hybrids proved the flavour of the month in the opening weeks of 2024, with Axa attracting peak demand of over €8bn to a €1.5bn inaugural RT1, while an Allianz €1.5bn Tier 2 was able to outperform bank ...

Allianz, Axa star as sub insurance hits sweet spot

Market

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The market is pricing in early rate cuts in Europe and the US, apparently ignoring pointed comments from central bankers and a minefield of geopolitical tensions throughout 2024, meaning the risk of a sharp repricing is ...

Macro, geopolitical pressures hold risks as central bank warnings fall on deaf ears

Q&As

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Financial institutions investor roundtable with the EBA: macro & structural drivers for 2024 issuance. ...

2024 Outlook Roundtable: Everything Can Happen

Focus

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Going into the final quarter of 2023, the outlook is uncertain after the Fed at its last meeting hammered home its “higher for longer” message. But although the credit market remains subject to the whims of the rates ...

Tone downbeat in wake of hawkish Fed, but selective opportunities for issuance remain

Market

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Crédit Agricole braved a downbeat tone in the US dollar primary market on Monday and was rewarded with a $6bn book that allowed it to price its largest deal in the currency since 2014 and all but conclude the French ...

CASA gets $6bn book for $1.75bn SNP return

News in brief

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A slew of downgrades could result from the latest EC proposals to reform the EU resolution framework, while smaller and medium-sized banks could approach the capital markets for MREL issuance. However, with national ...

CMDI proposals could prompt downgrades, MREL supply, but tough discussions ahead

Focus

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The Italian covered bond market is set to reopen in June after almost a year’s hiatus, with the first new OBGs eagerly awaited since the Bank of Italy finalised its framework in March. On 17 May, Crédit Agricole CIB ...

OBGs: Back in business

Focus

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The resumption of euro unsecured bank issuance today (Tuesday) comes on the back of a rapid recovery from post-SVB and Credit Suisse lows, with even AT1s having rebounded strongly. The ball is now in the court of central ...

Euro bank debt recovers strongly to reopen ahead of Easter, as rate outlook improves

Market

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Axa issued the first euro subordinated FIG transaction in four weeks today (Tuesday), a €1bn 20.25 year non-call 10.25 Tier 2 that attracted some €4.6bn of demand and landed at a new issue premium of just 10bp, ...

Axa €1bn Tier 2 restarts sub debt, after insurance outperforms

Focus

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Nordic banks are among the best positioned in Europe to ride out the uncertainties facing the banking sector in 2023, according to Crédit Agricole CIB bank analysts Gwenaëlle Lereste and Pascal Decque, highlighting the ...

Nordic Bank Day: Safe haven picks for 2023

From CACIB