Bond market: strong success for Natixis on financial institution segment
The FIG bond market has been very robust since the start of the year, enabling financial institutions to borrow over the medium or long term at highly attractive conditions.
Natixis has managed several landmark deals over the first half of the year, particularly on the covered bond market, where it was voted best euro lead manager in 2018, managing deals such as the Royal Bank of Canada’s 7-year €1.250bn issue, Nordea’s 8-year €1bn deal and Santander’s 12-year €1.50bn transaction. It also handled issues for new clients like Slovakian bank VUB’s 10-year €500m issue and AXA Banque France’s maiden 8-year €1bn bond, which we structured and managed.
Natixis was also active in the subordinated and innovative debt segment, managing issues for the Belgium insurance group Ageas (500 M€) and Banque Fédérative Crédit Mutuel (€1bn) for their tier 2 subordinated bond issues, as well as UniCrédit for its unprecedented €1.250bn 6-year senior preferred bond issue, callable after five years.
Natixis managed as many as 30 bond mandates for financial institutions over the second quarter of this year with euro-denominated deals for Wells Fargo and Mizuho, and dollar-denominated issues for ICBC and CEB.