Banks tap exceptional markets to get tricky deals out of the way
A big first week back for FIG issuers has seen many of them break with tradition and prioritise their riskiest transactions, feeding them into an investor base that is abundant with cash and hungry for yield, writes Tyler Davies.
Gone is the well-established practice of reopening the market with sales of covered bonds and vanilla funding instruments.
European banks instead burst back on to the scene in 2020 with the full variety of debt offerings, from covered bonds right down to subordinated debt.In the euro market ...
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