Covered Bonds

◆ French lender amasses huge €4.5bn book ◆ CFF prices only slightly wider than OATs ◆ Strong conditions could attract prefunding trades

Lobbying for a better bonus is a fine art with high stakes. Most who try it will fail and damage their own prospects.But for those who master it, there is a chance to move up the compensation gears. Here’s how to do it

Lender expects to report a pre-tax loss of €210m-€265m by the end of 2025

Capital markets veteran won Lifetime Achievement Award

◆ No premium needed for size ◆ Deal is Westpac's first in Swiss francs for over two years ◆ Foreign supply is down in Swiss francs this year

Strong demand for slim supply could tempt issuers to access the market before Christmas

◆ Combined demand peaks at more than €5.1bn ◆ Yield curve drives investors towards seven year ◆ No premium needed to hit size targets

◆ Hungarian bank's €100m deal takes €1.15bn of orders ◆ Issuer had Wednesday's FIG market to itself ◆ CEE names offering 'nice pickup'

Shares fell and bonds widened without any announcements from the bank

◆ Eight year spread set at same level to five year debut ◆ Book just about covered, leads left holding paper ◆ Some concession needed in a tricky market

Ludwigsburg eyes duration, while MBH plans 'classic club' deal

The recent high profile bankruptcies of Tricolor and First Brands have cast an uncomfortable spotlight on the private credit market. For commentators and investors alike, these events trigger a familiar debate.