Banks

◆ No attrition on insurance arm's €500m no-grow 2036 deal ◆ Ample demand from buy-and-hold accounts ◆ 'So much cash available' despite US-Iran peace deal failure

◆ Sterling trade was lender's third tranche of covereds this year ◆ 48bp was in line with fair value, a banker said ◆ Santander UK's first sterling covered since May 2025

Édouard Sauce had been with the firm for almost a decade

As JP Morgan brings its Security and Resilience Initiative to Europe, Craig Coben uncovers what it takes to make such an effort pay off rather than fizzle out as a piece of flashy marketing

◆ OCBC's prices first covered bond since April 2025 ◆ 10th Asian covered issued in 2026 ◆ Order book peaks at over €2bn but lost €400m

The US bank is showing its global credentials at a time of increased transatlantic tensions but European banks are equal to the challenge

US drug company Eli Lilly jolted the dollar market awake on Wednesday with an eight-part jumbo trade to fund two recent acquisitions

FIG borrowers flood dollar markets as Westpac's SEC exit strategy pays off

◆ Strong demand for capital supports two major banks' simultaneous deals ◆ Deutsche goes big and pays concession ◆ SG restricts size for a punchy print at fair value

◆ Issuer lands in 'the place to be' amid strong demand for covereds ◆ Achieves its largest covered book since at least 2023 ◆ After 7bp tightening the bond was spotted another 2bp tighter to erase new issue concession

Market participants have questioned if the differential in the risk-weightings between securitized and covered assets will affect demand for covered bonds

◆ Several market currents support new long five years ◆ UniCredit GmbH achieves larger size close to fair value ◆ CRH pushes annual covered funding to €3.15bn