Banks
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‘New kid on the block’ disrupts established order with lead role on Schroders takeover -
The lack of covered bonds priced this week has focused minds on the the specific requirements of investors and issuers
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HSBC and SEB opt for senior funding in dollars as Deutsche Bank turns to renminbi
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Research suggests up to €23bn of new covered bonds could still be issued in March
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Market participants recall NIP increases triggered by Trump's 'liberation day' tariffs
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French bank retains overall top spot in euro market, Crédit Agricole leads in senior and JP Morgan in third-party capital sales
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Hatzinger had been Agricole's head of loans for Dach
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Market participants argue that market uncertainty makes shorter tenors more palatable for investors
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Investors seek yield in long-dated FIG subordinated and senior markets
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◆ Thursday's only covered deal, possibly February's last ◆ French issuer likes dual tranche format ◆ 'Disconnect' between primary and secondary markets apparent, says banker
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◆ NAB executed at 30bp over mid-swaps threshold ◆ Banker said deal was 'in line with what was expected' ◆ Leads chose three Canadian covereds as comps
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Deal priced with 3bp premium to ING's Green Lion 2026-1
