19 June 2013
The Parliamentary Commission on Banking Standards (PCBS) has urged the UK government to consider splitting the Royal Bank of Scotland into a good and bad bank, after calling political interference in the bank “unacceptable”. read more »
ABN Amro has made a triumphant return to the short end of the curve — selling more than €500m of medium term notes on Monday and Tuesday alone — and brought joy to MTN dealers starved of front end supply.
Swedbank has bought back just over €1bn equivalent of debt guaranteed by the Swedish government.
Co-operative Bank paper was under more selling pressure on Tuesday as Moody’s announced a raft of ratings downgrades on the UK lender, which revealed plans to tackle a £1.5bn capital shortfall on Monday.
Citi is expected to sell its first ever public Norwegian krone debt on Monday afternoon, a five year global deal. The bank is looking to take advantage of investors' increased interest in the currency.
Royal Bank of Scotland has unveiled plans to accelerate the reduction of its investment banking business, just one day after the bank announced that CEO Stephen Hester would leave the firm at the end of the year.
State-owned Chilean bank Banco del Estado de Chile (Banco Estado) printed ¥24bn ($249m) of five year money on Tuesday, becoming the first borrower from the country to tap Japanese yen.
Commerzbank will put the finishing touches to the marketing of its new public sector-backed covered bond programme on Friday, after getting ratings from Moody’s and Fitch. The programme is collateralised mainly by export credit agency (ECA) guaranteed loans — unlike the bank’s old Eurohypo programme, which was put into wind-down in 2012 and was backed by loans to municipalities.
Akbank is considering slashing the margins on its August syndicated loan to below the 100bp all-in benchmark pricing that Turkey's top tier banks have paid this year.
Traditionalists among the ECM set won’t be impressed, but plans for a £33bn distribution of Lloyds Banking Group and Royal Bank of Scotland shares to the general public are moving closer to fruition. Those whose eyes glaze at the mention of the “idea that just won’t die” would do well to look again: it is ECM structuring at its best.
ALD International
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