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
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
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
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
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
Peripheral credits such as Banco Sabadell and Intesa Sanpaolo made hay of strong conditions that followed the first and second round victories of Emmanuel Macron in the French presidential election in May, as the political ...
Peripherals ride relief rally as Macron pierces gloom
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A EUR1bn debut Additional Tier 1 issue for CaixaBank on 1 June showed the AT1 market to be in rude health, attracting more than EUR3.3bn of demand despite coming a day after fears about compatriot Banco Popular Español ...
CaixaBank shrugs off Popular woes to score AT1 debut
Market
Swedbank on 15 May sold the first sub-100bp Tier 2 trade since the collapse of Lehman Brothers, a EUR650m 10.5NC5.5 deal priced at 82bp over mid-swaps — over 30bp tighter than what had been the previous Tier 2 tight for ...
Swedbank hits Tier 2 tight in heady conditions
Market
Crédit Agricole surprised the market in March by becoming the first French bank not to call a perpetual hybrid Tier 1 instrument, in line with increasingly economic bases for such decisions in Europe, but softened the ...
CASA innovates with new combined LM offer
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