CNP Assurances and Scor SE provided some year-end cheer for the insurance sector at the beginning of December with Eu750m and Eu500m subordinated bond issues, respectively, that represented the first such benchmark euro ...
CNP, Scor in uplifting insurance coda
Market
Nordea attracted over Eu4.5bn of demand for a Eu750m (Skr7bn) 10 year non-call five Tier 2 issue on 2 November that was the first investment grade Tier 2 transaction since the beginning of September, paving the way for a ...
Nordea blowout reopens Tier 2 after hiatus
Market
ABN Amro unblocked the primary market for subordinated bank debt on 23 June with a Eu1.5bn Tier 2 issue that attracted some Eu8bn of orders, raising hopes that a heavy pipeline of delayed AT1 and Tier 2 projects might be ...
ABN Amro premium clears Greek blockage
Market
Länsförsäkringar Bank (LF Bank) sold its inaugural Additional Tier 1 issue on 2 June, a Skr1.2bn (Eu128m) perpetual non-call five issue that achieved tight pricing relative to international markets and also LF’s Swedish ...
LF Bank in tight Skr1.2bn AT1 debut
Market
Bank of Ireland sold its first Additional Tier 1 issue in the second week of June, a Eu750m perpetual non-call five issue that was more than seven times oversubscribed even as high rated issuers struggled to cope with a ...
Bank of Ireland in AT1 debut despite turmoil
Market
Santander UK sold an inaugural public £750m (Eu1.03bn) AT1 at the group holding company level at the end of May in conjunction with a tender offer for a variety of its operating company’s capital instruments, in a move an ...
Santander in £750m UK HoldCo AT1 first
Market
Kommunal Landspensjonskasse (KLP) sold a Eu600m 30 year non-call 10 Tier 2 transaction on 2 June that, according to an official at the issuer, is its first bond issue in nine years and the largest ever from a Norwegian life ...
Norway’s KLP in rare Eu600m Tier 2
Market
HSBC provided a late highlight to first quarter Additional Tier 1 activity with a $2.25bn transaction in late March that rounded off a constructive first quarter in which issuers across the credit spectrum were able to find ...
HSBC caps Q1 as ECB QE reboots AT1
Market
Crédit Agricole Assurances in early January squeezed in the last grandfathered Tier 1 trade before Solvency II took full effect later in the month, with the sector now awaiting the first fully-fledged trades under the new ...
CAA under the wire, Solvency II Tier 1 awaited
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