Covered Bonds
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Bankers disagree about whether fatigue for 10 year deals is growing
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Bankers away from Argenta’s trade say pricing started wide
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Bankers say primary covered market remains in great shape
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Issuer prices close to fair value, having pulled a 12 year tier 2 in early January
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Mood stays 'very constructive' as ECB meeting proves a 'non-event'
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From long-dated covered and senior bonds to regulatory capital deals; all were priced tight this week. Even after Thursday's ECB meeting, nothing looks set to worsen conditions for issuers
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Single tranche format unlikely despite recent successes
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French bank can afford to be opportunistic thanks to its well-advanced funding plan, as it will not immediately rush to revisit the subordinated debt market after its pulled tier two deal, its head of capital markets tells GlobalCapital
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German issuer follows recent French successes in longer-end
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Issuer responds to bank treasury demand for FIG FRNs and seven year duration
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Pricing was 'tricky' and 'staunch conservative investors' were wary
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Success follows €1bn 10 year senior sale on Monday