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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
Pre-funding by banks and a pick-up in insurance issuance, as well as developments in the ESG space and liability management, could see the prospects for financial institutions activity improve in the second half of the year, ...
Positioning for H2
From Crédit Agricole CIB
All sides of the market have to grapple with how the introduction of IFRS 17 will affect insurance companies’ business performance and credit dynamics ahead of its introduction in 2023. Here, Crédit Agricole CIB’s DCM ...
IFRS 17: Anticipating the ‘disruptive’ new standard
Regulation & ratings
Raiffeisen Bank International (RBI) cemented its status as the leading bank issuer of green bonds in Austria with the launch of its first green Tier 2 on 9 June, a €500m 12 year non-call seven deal that attracted some ...
RBI: Leading Austrian extends in green
Q&As
Origin Documentation, soft-launched in July 2020, automates the production of transaction documentation pre- and post-bond issuance. Origin worked with Crédit Agricole’s treasury and Crédit Agricole CIB’s Debt Capital ...
CASA sees efficiencies in Origin auto-docs
Case Studies
The US may be taper-whispering, but the European Central Bank cannot return to its pre-pandemic level of bond buying until at least the end of 2022, even if the recovery continues, argues Crédit Agricole CIB Eurozone ...
Too soon to talk about ECB tapering
From Crédit Agricole CIB
BayernLB achieved the tightest re-offer spread for a German euro Tier 2 benchmark when it sold the first green Tier 2 from the country on 16 June, a €500m 10.25 non-call 5.25 trade priced at 135bp over mid-swaps on the ...
Green helps BayernLB to Tier 2 landmarks
Q&As
Crédit Agricole SA (CASA) on 20 May launched a novel one-for-one exchange offer for holders of its £500m (€582m) perpetual non-call June 2026 grandfathered Additional Tier 1 instrument, seeking to replace it with a fully ...
Crédit Agricole £500m AT1 exchange tackles Libor, CRR issues
Market
Persistent signs of a burgeoning US recovery over the summer could lead to the FOMC signalling its tapering strategy as early as the August Jackson Hole central bank symposium or the September policy meeting, according to ...
Managed taper anticipated from September, wider EUR/USD XCCY
From Crédit Agricole CIB
With rates markets having stabilised after a bout of uncertainty, the US credit market last week experienced renewed momentum, allowing an array of European banks to achieve stronger outcomes than available in a more ...
Dollar bank capital hits new highs as rates stabilise, overshadowing cautious euro mart
Market
