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◆ Note lands close to national champion ◆ Issuer targeted price over size ◆ Deal shows Fridays are an open window
Issuer plans regular voyages to euro covered market
◆ Investors flock to tightly priced trade ◆ Next to no premium paid ◆ Sparebanken Vest is still to come
Sub-sections
Sub-sections
Deal reviews
◆ Note lands close to national champion ◆ Issuer targeted price over size ◆ Deal shows Fridays are an open window
Issuer plans regular voyages to euro covered market
◆ Investors flock to tightly priced trade ◆ Next to no premium paid ◆ Sparebanken Vest is still to come
◆ Both deals almost four times covered ◆ Pair tightened by 7bp ◆ Next to no premium paid for either bond
Opinion
Everyone knows investment bankers’ jobs can be cut at a moment’s notice. It’s one thing when you’re experienced and have made some money. But junior bankers are just as vulnerable, and have fewer options. It’s a big problem this year
Banks have plenty of buy-to-let assets on their balance sheets; issuers should follow Paragon's lead for as long as investors and regulators allow
Paragon's visit to the covered bond market highlights the shoddy regulatory treatment of RMBS
When an investment bank splashes out on a big money rockstar hire, it’s not just a transaction or a rejig of the org chart; it’s a public statement of intent as well as a high profile bet that comes with a lot of buzz, bravado, and backbiting
Analysis
Investors showing a preference for rarer names and jurisdictions
Investors are hungry for any paper offering more than 3%
Banks have plenty of buy-to-let assets on their balance sheets; issuers should follow Paragon's lead for as long as investors and regulators allow
Issuers will probably have to ‘re-establish’ new issue premiums at a higher level
More articles
More articles
More from covered bonds
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Sparkasse Dortmund adds 10 year sub-benchmark offering to pipeline -
◆ NN the first Friday deal in six weeks ◆ Investors hungry for undersupplied Dutch paper ◆ Book grows after spread set
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◆ Norwegian lender shows longer tenors are no issue ◆ Investors flock to four times covered deal ◆ Slim premium paid to reopen market
