Atanas Dinov

FIG

London, UK. 19th Dec, 2020. Allianz Park ready for during the Womens Allianz Premier 15s match between Saracens Women and Loughborough Lightining at the Allianz Park, London, England on 19 December 2020. Photo by Phil Hutchinson. Editorial use only, licen

Banks face 'screaming opportunity' in AT1 market

Allianz's early dollar tier one foray paves the way for tight pricing

Atanas Dinov, August 21, 2025

Senior Debt

The headquarters of Northwestern Mutual in Milwaukee, Wisconsin.

◆ MetLife, Northwestern restart sterling issuance after two-month hiatus ◆ Corporates print as supply scarcity, redemptions create demand for credit ◆ Others beyond highly rated FABN unlikely to join

Atanas Dinov, August 21, 2025

Senior Debt

BBVA and RBI push ahead with non-preferred issues

◆ BBVA opts to go long amid attractive absolute spread levels ◆ Pays slim concession ◆ Higher paying RBI lands flat to fair value backed by strong demand

Atanas Dinov, August 20, 2025

Primary Market Monitor

Sunrise over prairie, Dakota County, late summer, MN, USA, by Dominique Braud/Dembinsky Photo Assoc

FIG issuance dominates summer as spreads and concessions condense

High demand for senior and tier two debt keeps deals rolling in

Atanas Dinov, August 20, 2025

Covered Bond Deal Reviews

Unicredit Hypo Vereinsbank Head Office, Munich, Bavaria, Germany

UniCredit Bank scores tight public sector Pfanbrief

◆ Deal one of the tightest of the year ◆ Granular book peaks at over €2.2bn ◆ Slim to no premium paid

Frank Jackman, August 20, 2025

Senior Debt

Mizuho Financial Group sign.Mizuho Bank is one of the biggest banks in Japan.

Mizuho and Athene lean into long-dated bid

◆ Investors seek duration for spread and yield ◆ Mizuho accelerates issuance timing to capture attractive 10 year funding ◆ Athene pulls in spread buyers to its longest G3 bond

Atanas Dinov, August 20, 2025