by Amruth Sundarkumar | Jun 10, 2021 | Financial Institutions, Perpetual Bonds
Ahli United Bank raised $600mn via a Perpetual non-call 5.5Y (PerpNC5.5) AT1 Sukuk at a yield of 3.875%, 50bp inside initial guidance of 4.375% area. The bonds are unrated. Ahli United Perpetual Sukuk is the issuer and Ahli United Bank KSCP is the obligor. The bonds...
by Amruth Sundarkumar | May 31, 2021 | Banks, Financial Institutions
The US Federal Reserve in an annual regulatory assessment noted that Deutsche Bank had not improved its risk management practices despite being under confidential agreements with the Fed. The Fed privately warned the German lender that its compliance programs are not...
by bondevalue | May 28, 2021 | Financial Institutions, Perpetual Bonds
Oman Arab Bank raised $250mn via a debut PerpNC5 Tier 1 bond at a yield of 7.625%, 37.5bp inside initial guidance of 8% area. The bonds were unrated and received orders over $1.1bn, 4.4x issue size. The coupons are fixed until June 4, 2026, and if not called, resets...
by bondevalue | May 27, 2021 | Financial Institutions, Perpetual Bonds
UBS raised $750mn via a Perpetual non-call 5Y (PerpNC5) AT1 bond at a yield of 3.875%, 37.5bp inside initial guidance of 4.25% area. The bonds have expected ratings of BB/BBB. The coupon is fixed until the call date/reset date of June 1, 2026. If the bonds are not...
by bondevalue | May 24, 2021 | Financial Institutions
A spokesman of UniCredit said on Friday that the bank would not be paying coupons on their euro-denominated convertible and subordinated hybrid equity-linked note known as CASHES (ISIN: XS0413650218) after the Italian lender posted a €2.79bn ($3.4bn) loss in 2020....
by bondevalue | May 21, 2021 | Financial Institutions, Perpetual Bonds
Emirates NBD raised $750mn via a Perpetual non-call 6Y (PerpNC6) AT1 bond at a yield of 4.25%, 25bp inside initial guidance of 4.5%. The bonds received orders over $1.7bn, 2.3x issue size. The coupons are fixed until the first reset date of May 27, 2027 and if not...
