Securitisation

Covered Bonds

• FIG hits pause but pipeline healthy
• ING rides rarity for covered bond success
• Trio tap covered market as investors look for liquidity
• SME-backed covered bond debate drags on
• Stronger structures could stop covered cuts, says Volk

Senior Debt

• ABN sees Rabo’s 10 year, raises six months
• Nomura impresses with euro return
• Sampo launches benchmark Swedish krona deal
• DVB targets fashionable five years
• ING to price first Aussie of the year on Tuesday
• FIG hits pause but pipeline healthy
• Premium-light deals on FIG menu as issuers bask on spread plateau
• Big accounts ‘error’ on BNP Paribas bond
• BHH drives its rare senior venture with big lead interest
• ASB Bank capitalises on high rating with Swiss deal

Bank Capital

• Pressure off for Lloyds and RBS as PRA reveals capital requirements
• UBS courts European Coco demand by cutting out Asia
• Morgan Stanley’s 10 year sub raises $2bn
• Banco Popolare offers investors premium on capital buyback

Equity

• Goldman exits ICBC with $1.1bn block; bags 6.7% share in Keppel Reit
• VTB moves to open subs after 57% rights take-up
• BofA Merrill stakes claim to European battleground
• Commerz kicks off €2.5bn rights issue to pay down state aid

Other News

• UniCredit bounces back as loan provisions fall

MTNs and CP

• US money funds back with eurozone banks after March blip
• Peripheral EMTN yields plummet but smaller banks frozen out
• Garanti follows Swiss debut with chunky deal

Bond Comments

• Berlin-Hannoversche Hypothekenbank
• Rabobank

Emerging Markets

• ADCB sharpens guidance on LT2
• Emirates NBD launches perp at 5.75%, books over $4.25bn
• Ziraat lines up leads for dollar debut
• Russia adopts Basel III routine with tier twos for Sberbank and RSB
• ME appetite stays as CBD draws $2.6bn book
• Pipeline clear as LatAm volumes break 2012 numbers

Loans

• Skye Bank joins the queue as latest Nigerian FI looking for loan
• Alternatif, Turkiye Finans launch refinancing loans

Covered Bonds

• FIG hits pause but pipeline healthy
• ING rides rarity for covered bond success
• Trio tap covered market as investors look for liquidity
• SME-backed covered bond debate drags on
• Stronger structures could stop covered cuts, says Volk