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Bond Market News
European Dollar AT1s Complete Busy Past Week; View Actively Traded AT1s’ Prices, Yields, Returns
September 12, 2024
Several popular European banks issued dollar AT1 notes in the previous week, that saw demand and notable tightening from their respective initial price guidance. This included the following:
- HSBC’s $2.5bn two-part deal – $1.35bn PerpNC5.5 at a yield of 6.875%, 75bp inside initial guidance of 7.625% and a $1.15bn PerpNC10 at 6.95%, 67.5bp inside initial guidance of 7.625% area.
- UBS’s $1.5bn PerpNC5.5 at a yield of 6.85%, 77.5bp inside initial guidance of 7.625% area.
- ING Groep’s $1.0bn PerpNC10 at a yield of 7.25%, 62.5bp inside initial guidance of 7.875% area.
- BNP Paribas’ $1.0bn PerpNC10 at a yield of 7.375%, 62.5bp inside initial guidance of 8% area.
Below is a table with the latest prices, yields and the returns since issuance of the above notes
BondbloX now allows its trading clients to participate in new bond issues like the Perps issued last week. If you would like to participate in new issues in smaller sizes, complete your digital onboarding for trading access.
If you are a BondbloX trading client who missed these deals on primary, you can indicate your interest to trade these in secondary via BondPool on the BondbloX App.
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HSBC Prices $2.5bn Two-Part AT1 Deal
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