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Crédit Agricole launched the first issue of the new class of French senior non-preferred debt on 13 December, a Eu1.5bn 10 year issue that came just two days after the respective law was promulgated and three weeks after ...
CASA primes EU-wide senior non-preferred mart
Market
Financial institutions issuance enjoyed an unprecedentedly buoyant year-end in 2016, with a trio of European issuers selling Additional Tier 1 (AT1) instruments in a variety of formats, and 2017 is also expected to open with ...
Expectations high after year-end upside surprise
Market
Proposals for the next iteration of CRR/CRD and BRRD have been unveiled just as negotiations over Basel III revisions reach a critical stage and an unknown new administration arrives in the US. The EU moves augur well for ...
Take two
Regulation & ratings
Crédit Agricole launched the first senior non-preferred benchmark on 13 December, just days after the respective French law became effective and in the wake of the European Commission proposing EU-wide adoption of such an ...
Senior non-preferred: CASA opens new segment
Case Studies
CNP Assurances launched the first Tier 3 transaction under Solvency II in the euro market on 12 October. Here, Jean-Philippe Médecin, director for ALM and funding, and Stéphane Trarieux, funding department, at the French ...
CNP Assurances: Tier 3 open for business
Q&As
Woori Bank launched the first foreign currency perpetual Basel III-compliant AT1 from South Korea on 20 September, a US$500m perpetual non-call five deal. Here, Young Ho Suh, executive (pictured), and Hee Seung Yea, team ...
Woori Bank: Perpetual first
Q&As
Crédit Agricole Assurances launched a Eu1bn 32NC12 Tier 2 transaction on 20 September, the first such benchmark from the insurance sector since the summer break, and attracted Eu2.5bn of demand from 170 accounts. Grégory ...
CAA: Growing in assurance
Case Studies
Skandinaviska Enskilda Banken (SEB) took advantage of attractive funding available in Tier 2 to prefinance a 2017 call with a punchy Eu850m 12 year non-call seven subordinated issue on 24 October that underlined the tight ...
SEB tempted into early Tier 2 prefinancing
Market
DNB attracted over $5bn of demand and 350 accounts to a $750m perpetual non-call 2022 Additional Tier 1 transaction on 11 October that was the first AT1 benchmark in dollars or euros in over a month and the first since ...
DNB reopens AT1 post-DB part II with $750m
Market
DBS Group Holdings achieved the lowest ever coupon on a US dollar Additional Tier 1 benchmark on 30 August when it sold its first AT1 issue outside its domestic Singapore dollar market, a $750m perpetual non-call five deal. ...
DBS sets coupon low in debut US$1bn AT1
Market
Dai-ichi Life sold a $2.5bn subordinated perpetual non-call 10 issue on 13 July with the lowest coupon for such an issue among its peers, ahead of an October move to a HoldCo/OpCo structure for Japan’s largest life ...
Dai-ichi Life sets $2.5bn benchmark before HoldCo move
Market
CNP Assurances launched the first euro benchmark Tier 3 transaction under Solvency II on 12 October, a Eu1bn six year that provided a highlight as most insurance companies turned to the dollar market for subordinated debt. ...
CNP Eu1bn opens Tier 3, while insurers get USD fix
Market
