3 September 2010
Banca Monte dei Paschi di Siena ignored the heightened level of uncertainty in the bank capital market this week, pricing a Eu500m 10 year bullet lower tier two issue via Crédit Agricole, Goldman Sachs and Société Générale. read more »
FIG bankers are worried that a lively start to September may hit a road bump on Friday if US payroll data is weaker than expected.
Santander UK has priced the first publicly marketed European securitisation since July, raising £1.25bn equivalent through its Fosse mortgage master trust.
Banca Monte dei Paschi di Siena ignored the heightened level of uncertainty in the bank capital market this week, pricing a Eu500m 10 year bullet lower tier two issue via Crédit Agricole, Goldman Sachs and Société Générale.
The European Parliament and the Council of Europe reached an outline agreement late on Thursday night which will result in legislation creating European super-regulators being voted on later this month so that the bodies can begin functioning in January.
Tim Michael resigned from Royal Bank of Scotland’s bond syndicate desk on Tuesday. Michael, who had been at the bank for just over four years, is said to be joining Citi to work on its syndicate desk.
UK equity investors and underwriters returning from the summer break are set to resume their squabble over fees paid for rights issues ahead of a report due from the Office of Fair Trading before the end of the year. One of the UK’s biggest investors, Standard Life Investments, set out its case for more competition and lower fees in a recent letter to the Investment Management Association.
Russia’s TransCreditBank has launched a $250m two year loan into retail syndication, “It’s one of the few deals to go into retail this year. Everything we do in Russia is going well, it’s popular,” said a banker close to the deal.
Fitch will provide ratings for a new generation of tier two capital that the Basel Committee on Banking Supervision is seeking to impose, the agency told EuroWeek on Wednesday, soothing fears that the instruments will not meet rating agency criteria for fixed income.
Bank of Ireland has stepped up its funding in the MTN market this month as a variety of investors, particularly niche currency bond buyers, turn to the name.
Gazprombank tapped its recent 6.25% December 2014 notes on Thursday, doubling the loan participation deal’s size to $1bn.
European ABS is on the rise, but it needs to find more investors before appetite wanes.
Banca Popolare dell’Alto Adige
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