BNP Paribas

Foreign banks took advantage of more stable bond market conditions amid a funding splurge by US banks after reporting bumper first quarter earnings

Smaller, private banks likely to issue in coming weeks, experts have said

There were no new covered bonds issued on Thursday after two on Wednesday and four on Tuesday

◆ Issuer’s last covered was in May 2023 ◆ Fifth Dutch covered bond in past month ◆ Fifth €500m no-grow deal in past two days

◆ Dutch lender breaks Nykredit's s all-time low reset spread before the Iran war ◆ AT1 is 'rare gem' amid Rabo's capital reduction ◆ Significant market improvement sees BNPP stretching to dollar NC10 AT1

◆ One of four covereds issued on Thursday ◆ CMHL issued the last three French covered bonds ◆ Euro benchmark deal fixed at €1.25bn

Senior banker will move to Abu Dhabi to take up position

Short senior FRNs emerge as Nordic banks go local

First new covered bond since the end of February ◆ Deal shows investor preference for short-dated paper – RBC ◆ Issuer benefits from minimal exposure to Middle East, says banker

‘New kid on the block’ disrupts established order with lead role on Schroders takeover

◆ 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

◆ Order book smaller than issuer’s last covered in January ◆ Banker said covered bond market has reached plateau ◆