French banks lead US dollar deluge as regulatory fog clears

摘要

The US dollar market proved more than a match for US$18.05bn of European banks' loss-absorbing debt supply last week, giving a glimpse of the year ahead as banks flock to the deepest bond market to meet new regulatory requirements. BNP Paribas, Credit Acricole and Societe Cenerale printed US$5.3bn in the first US dollar senior non-preferred transactions, while Barclays, Iloyds, Santander UK and Credit Suisse raised US$12.75bn in holding company debt.