Banks

◆ Lender's first covered since September 2024 ◆ Deal was fixed at €500m and tightened by 5bp ◆ Banker said the trade offered 1bp of new issue premium

Banker joins NatWest in Paris after a decade away

◆ Finnish lender's first covered since September ◆ Third Finnish covered bond issued this year ◆ Helsinki-based bank fixed size at €500m

The Norwegian bank is planning to issue 'in the near future' its first covered bond since September 2024

Departure follows Safa’s resignation last week

Iran ceasefire rally could draw out more issuance before expected May rush

Honda bags $2bn, Enterprise Mobility $3bn

Smaller order books and tighter new issue premiums characterise new phase

Foreign bank issuers secure tight pricings

◆ UK lender chooses home market for first major bank capital deal in sterling or euros in nearly two months ◆ Similar absence of unsecured FIG issuance ◆ Tier two best positioned for sterling restart, says lead

◆ New deal launched at very similar fair value to previous one from September ◆ Italian bank pays higher NIP than before ◆ Timing a consideration as ceasefire sparks rally

◆ Portuguese bank tightened spread by 3bp ◆ First covered from issuer since October ◆ Banker said this is 'good level for issuer'