Banks
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NWB Bank lands all-time record book -
Four senior bankers in total confimed as put at risk in London
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French bank is a force in covered and overseas unsecured issuance
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HSBC takes a hit on its Chinese bank stake, while banking, capital markets and advisory revenues remained unscathed
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Both names drew large oversubscriptions despite bringing similar trades
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Covered bonds are popular across Europe, but domestic demand is still king
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Hybrid capital and ESG specialists leave
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Two other German SSAs bring deals on same day
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Latest deal came 1bp through fair value, according to the issuer
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◆ Issuer removes capital deficit ◆ Starts marketing ‘aggressively’ to finish through fair value ◆ Unlikely to print any senior debt for regulatory purposes
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Some market participants saw just 1bp of new issue premium in the deal
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The UK bank has been under pressure to lift its share price performance
