Banks

French bank pre-funds with AT1 capital outing as US FIG annual supply tops $757m

Clearstream and the VDP are working together to get system working by end of 2026

France’s investment banking market recovered strongly in 2025 but that doesn’t mean domestic banks are happy. The market is super-competitive and US firms are winning many of the best mandates

◆ Big year for Reverse Yankee bank issuance now tops €30bn ◆ Goldman back for first time since January ◆ Deal nearly 2.5 times subscribed

German bank's report says French covereds will likely remain competitive

Citi comes in second to JP Morgan for CEEMEA syndicated benchmark business

Steepening swap curve has revived interest in long-dated covereds

Bremen-based real estate and construction firm targeting three, five and seven years

Sovereign expects no big change to its 20 and 30 year issuance, growth a 'big component' for spread direction

◆ Insurer's €450m capital trade follows acquisition of Belgian subsidiary from BNP Paribas ◆ Books top €2.6bn ◆ BNP Paribas diversifies with dollar AT1

None of the four largest covered issuers of 2024 made the top five by deal volume in 2025

‘Volatility creates opportunities’ as market digests KfW’s new funding plan