Covered set to lead September renaissance
The outlook for the bank funding market was suddenly far brighter on Thursday evening than it had been for several weeks with Europe’s finance ministers on the brink of agreeing a Greek rescue package. But spreads are still high, and any deal agreed is unlikely to be the last. Banks could be looking at a difficult September.
And for those issuers with cash left to raise among them peripheral European institutions which have experienced sharp spread widening in recent weeks the pressure is mounting. But with senior unsecured spreads only just coming back in from historic wides, bankers say issuers will have to
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Further Reading
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Covered Bonds
SG and DZ get outstanding covered bond execution
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Senior Debt
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Regulatory Capital
AT1 extension risk at rock bottom as Handelsbanken calls deal
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People & Markets
EC pledges to ‘move faster’ on resolution reforms in drive for Banking Union