Banks

There's been a lack of ESG labelled FIG issuance in March, despite this year's volume being higher than last year

◆ Czech bank tightened by 4bp through execution ◆ Order book grew steadily to close at €1.25bn ◆ Banker said execution 'in line with expectations'

◆ Second deal after last year's re-entry is bigger ◆ Nomura wants to extend its euro curve after debut TLAC last May ◆ Higher concession seven year tranche lands at same level as last year's fives

◆ Austrian bank paid 5bp new issue concession ◆ Order size consistent with previous Erste covereds ◆ New issue premiums have increased in recent weeks

◆ Dutch bank's order book three times oversubscribed ◆ 3bp NIP offered ◆ Issuer placed a green senior bail-in last October

◆ Defensive structure for nervous market ◆ Largest book on a busy day for FIG issuance ◆ ABN keeps position of leading bank EuGB issuer

◆ €1.5bn covered is ING's first of 2026 ◆ 5bp of concession ◆ 'Sweet spot' tenor

New role includes digital assets

◆ Outsiders open EM investors’ wallets ◆ European banks let their hair down in dollar market, still shy in euros ◆ Digital innovation in Frankfurt with DZ Bank

◆ Spread fixed at start of execution ◆ RBC has issued four covered tranches this month ◆ Issuer’s last before this month was in January 2025

Changes to ECB collateral eligibility requirement could lead to more blockchain-based covered bonds, Moody's suggests

A series of foreign bank issuers move in force to raise dollars, pushing weekly issuance tally close to March 2025