Covered Bonds
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◆ Canadian banks ramp up European senior and covered funding ◆ BMO restarts this year's unsecured sterling issuance from the sector ◆ Deal provides more favourable funding than euros -
◆ €500m no-grow tightened by 7bp ◆ Issuer hits fair value, says lead ◆ Order book held up well through execution
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◆ Sub-benchmark note tightened by 6bp ◆ 14bp reoffer was at or just outside FV, says lead ◆ Order book showed some attrition in 'slightly weaker market'
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Investment banking travel was a relentless grind, not gold card access to global glamour
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LatAm agency brings second digital bond this year in the currency
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Specialist investors and strong names dominate as issuers stretch out to 15 years
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◆ Sub-benchmark note tightened by 10bp ◆ 15bp reoffer came 2bp inside fair value, says lead ◆ Another lead 'very surprised' by market's response
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◆ French issuers weighing deals for next week ◆ 'Smaller projects' may come this week ◆ Blackouts blamed for Wednesday's drop in issuance
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◆ Deal executed after 7bp of tightening ◆ Banker said spread represented fair value depite busy day for euro issuance ◆ Deutsche Kreditbank goes long amid thriving Pfandbriefe issuance
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◆ German bank started wider at 50bp before tightening ◆ DKB is known for issuing at the long-end ◆ Bond is trading as much as 2bp tighter in secondary
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◆ Aussie bank tightened 9bp through execution ◆ Deal more than six times oversubscribed ◆ Bank's last euro covered was in September 2023
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◆ Australian bank planning €500m covered ◆ Issuer's first euro deal since September 2023 ◆ Barclays, Natixis and UBS are lead managers
