Atanas Dinov

Senior Debt

Sign above entrance of Spanish bank BBVA in Valencia city. Spain

BBVA navigates softer market with defensive senior dual structure

◆ Senior preferred format helps mitigate execution risk ◆ Issuer shifts larger funding into shorter FRN ◆ Rates volatility back on the agenda

Atanas Dinov, May 29, 2024

Senior Debt

Axa breaks new ground with tightest senior FIG print

Insurer sets new tights for primary printing ◆ NIP opinions diverge on 10 year ◆ Sondrio pushes through fair value thanks to vanilla deal wrapped in green

Atanas Dinov, May 28, 2024

Covered Bond Deal Reviews

BARCELONA - APR 22: Rafa Nadal (Spanish tennis player) plays at the ATP Barcelona Open Banc Sabadell Conde de Godo tournament on April 22, 2015 in Bar

Sabadell’s 10 year covered gets M&A boost

◆ 12bp move from IPTs ‘remarkable’ ◆ €1bn print lands flat to inside fair value ◆ Iccrea to follow with 10 year OBG

Frank Jackman, May 28, 2024

Regulatory Capital

CBA drives rare euro tier two through fair value

◆ Greeniums on show in tier two euro deals ◆ Rarity and green elements generate negative NIP ◆ Aussie issuer follows major peers’ return to euros

Atanas Dinov, May 28, 2024

Regulatory Capital

FEDERAL STATE BANK, NORDDEUTSCHE LANDESBANK, NORDLB, BANK BUILDING, HANOVER, LOWER SAXONY, GERMANY. Image shot 2010. Exact date unknown.

NordLB looks to green debt stack after 'excellent' tier two return

Head of funding talks to GlobalCapital after breaking a decade long absence from capital issuance ◆ Issuer looks at covered and senior deals next ◆ New tier two deal has been among strongest recent FIG performers

Atanas Dinov, May 24, 2024

FIG

Knights of the Round Table: Percival departs in search of adventure. Famous for his involvement in the quest for the Holy

FIG issuers seize the day as capital quests diverge

Borrowers are using different strategies to optimise capital but strong market encourages the most subordinated deals

Atanas Dinov, May 23, 2024