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Main Street and Wall Street may have reconnected at a bullish juncture lately, but amid supply chain struggles, a spike in inflation has fuelled rates volatility and the latest from Fed chair Powell is that tapering may be ...
2022: Positives eyed despite inflation, Covid risks
Focus
AIA entered the euro market on 2 September with a €750m 12 non-call Tier 2 deal that attracted a peak €4.4bn book and beat spread expectations. Ethan Farbman, head of external capital and liquidity, group treasury, AIA ...
Euro investors buy into AIA’s distinctive story as €750m T2 debut beats expectations
Q&As
On 24 June, the European Banking Authority published an updated AT1 monitoring report highlighting its considerations regarding the use of ESG bonds for own funds and eligible liabilities. At a CACIB event, Delphine ...
Bank ESG Capital: The EBA perspective
Focus
Well-received remarks from Fed chair Jerome Powell set the stage for records to fall in the financial institutions space this week, as investors took their foot off the brake, allowing issuers from Allianz to CaixaBank to ...
AIA, Allianz put down markers as coupon records fall on back of Powell taper stance
Market
UniCredit successfully rounded off the first half the year in European bank capital on 30 June, issuing a €750m perpetual non-call seven Additional Tier 1 amid a pre-summer flurry of supply, with issuers still able to tap ...
UniCredit AT1 wraps up H1 with market finely poised
Market
Attractive opportunities for European banks in the US dollar market are expected to persist into the second half of the year, given the anticipated sharp drop-off in overall investment grade supply that is expected to ...
Yankee drumbeat to persist on supply, XCCY levels
Market
Macif sold the first ever transaction to include RT1, Tier 2 and Tier 3 tranches on 14 June, a €1.75bn three-tranche deal that attracted some €12.1bn of demand from more than 400 accounts, as the insurer successfully ...
Macif well positioned after €1.75bn M&A hat-trick
Market
Green, social and sustainability (GSS) bond issuance has trebled its share of key bank products in the first half of 2021, as banks increasingly seek to satisfy investors by reinforcing their ESG credentials and to leverage ...
SNP, Tier 2 lead H1 green and social bank bloom
Market
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
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
At the cusp of 2021, recently-approved Covid-19 vaccines offered a light at the end of the tunnel. For many, the tunnel sadly proved longer than hoped. But as we enter the second half of the year, there are encouraging signs ...
Into the green
Editorial
A new Moody’s Capital Tool (MCT) has been introduced to inform a risk-based analysis of the capital adequacy of property and casualty (P&C) and life insurers. Although no ratings will be changed, the tool is expected ...
P&C and Life Insurers: Moody’s Capital Tool
Regulation & ratings
