bearish
Bank of Communications: Recent AT1 Is Fully Priced; Look Elsewhere for Value
175 Views23 Nov 2020 18:29
Bank of Communications' recently issued Additional Tier 1 bond appears fully priced. We see little upside despite moderate exposure to typically problematic exposures. We see better value elsewhere.
SUMMARY
(Sign Up to Access)Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
- Unlock all research summaries
- Follow top, independent analysts
- Receive personalised alerts and emails
- Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.
or
Already have an account? Sign In Now
Full Insight
(Paid Plans Only, 4-minute read)
Discussions
(Paid Plans Only)
Hank Calenti, CFA
Financials Credit Analyst
Price Chart(Sign Up to Access)
- Postal Savings Bank – D-SIB Spurs Placement17 Dec 2020
- China A50 Deterioration a Risk for Asia13 Dec 2020
- China Banks – About Time07 Dec 2020
- Bank of Communications: Recent AT1 Is Fully Priced; Look Elsewhere for Value23 Nov 2020
- Bank Credit Weekly: Virus Vs. Vaccine: Time to Sell the Caa-Bull?22 Nov 2020
- HSBC’s AT1 Curve: Where Is the Cross-Currency Value?13 Nov 2020
- Bank Contingent Capital & Coronavirus Contagion30 Apr 2020
x