Highlight of Recent Issuance

Volkswagen

Fixed: Resettable Bond

7.50% p.a.

Issuer Rating
Nil
Issue Date
06-Sep-2023
Coupon Frequency
Annually
Call Date
06-Sep-2028
Seniority
Subordinated Unsecured
Maturity Date
Perpetual

Société Générale

Fixed: Resettable Bond

7.875% p.a.

Issuer Rating
A-/A1 (Fitch/Moody's)
Issue Date
18-Jan-2023
Coupon Frequency
Semi-Annually
Call Date
18-Jan-2029
Seniority
Junior Unsecured
Maturity Date
Perpetual

BNP Paribas

Fixed: Resettable Bond

7.375% p.a.

Issuer Rating
A+/Aa3 (Fitch/Moody's)
Issue Date
11-Jan-2023
Coupon Frequency
Semi-Annually
Call Date
11-Jun-2030
Seniority
Junior Unsecured
Maturity Date
Perpetual

UBS

Fixed: Resettable Bond

7.75% p.a.

Issuer Rating
A/- (Fitch/Moody's)
Issue Date
14-Nov-2022
Coupon Frequency
Annually
Call Date
01-Mar-2028
Seniority
Senior Unsecured
Maturity Date
01-Mar-2029

Lloyds Banking

Fixed: Resettable Bond

4.75% p.a.

Issuer Rating
A/- (Fitch/Moody's)
Issue Date
21-Sep-2023
Coupon Frequency
Annually
Call Date
21-Sep-2030
Seniority
Senior Unsecured
Maturity Date
21-Sep-2031

Barclays

Fixed: Resettable Bond

4.918% p.a.

Issuer Rating
A/Baa1 (Fitch/Moody's)
Issue Date
08-Aug-2023
Coupon Frequency
Annually
Call Date
08-Aug-2029
Seniority
Senior Unsecured
Maturity Date
08-Aug-2030

Allianz Insurance

Fixed to Floating Rate Bond

5.824% p.a.

Issuer Rating
AA-/- (Fitch/Moody's)
Issue Date
05-Jun-2023
Coupon Frequency
Annually
Call Date
25-Jan-2033
Seniority
Subordinated Unsecured
Maturity Date
25-Jul-2053

How to participate in newly issued bond investment?

Applying for new bond issuance is one of the important ways for bond market investors to buy high-quality bonds at a low price to obtain capital gains. Due to the asymmetry of financial market information, most investors know little about the issuance process of new bonds, so they can only access the secondary bond market with higher premiums, and miss many precious investment possibilities.

To participate in the issuance of bonds in the primary market, even institutional investors must make a decision and submit the subscription amount within a few hours of “book building”. Once missed, they can only purchase in the secondary market and pay an additional premium. Due to the blocked information channel, individual investors often only learn information about new bonds after the new bond issuance.

Therefore, Candour’s Wechat Official Account will provide the indicative quotation and tentative issuance date of the new debt to you after the “Roadshow” and decision of issuing the new debt before the “bookkeeping” to break the information asymmetry and let you prepare in advance to purchase your wanted bonds.