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Investors and issuers unlikely to reshape plans to capitalise on wide covered levels
Why remembrance of things past will soon include the traditional relationship between French covered and sovereign bonds
The higher one climbs the investment banking ladder, the less science seems to be applied to recruitment. While trainees must suffer weeks of formal recruitment process, the biggest P&L drivers are more likely to be tapped up down the pub
Sub-sections
Sub-sections
Deal reviews
◆ First offshore deal in sterling since PRA debacle in April ◆ Canadian undersupply driving demand ◆ Euro still better despite the UK Treasury's equivalence plans
German lender finds demand after record-breaking Pfandbriefzentrale deal
◆ Deal attracts more than €10bn ◆ Rarity of name and jurisdiction fuels demand ◆ No premium needed to take size
◆ First deal since Crelan/AXA Bank Belgium merger ◆ No premium paid ◆ Capped size allows for focus on price
Opinion
Why remembrance of things past will soon include the traditional relationship between French covered and sovereign bonds
The UK will do better with tactical retreats on regulation than risking being outflanked by the US's wildcat banking regime
The industry’s obsession with appointing co-heads plays into its reputation for competition rather than cooperation
Post-management senior positions can be very valuable, but only if handled right
Analysis
Investors and issuers unlikely to reshape plans to capitalise on wide covered levels
Why remembrance of things past will soon include the traditional relationship between French covered and sovereign bonds
Investors are unlikely to buy large new issues at the current tight spreads
Budget induced volatility could push OATs above covered spreads across the curve
More articles
More articles
More from covered bonds
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◆ Note is the issuer’s first in euros since 2022 ◆ Slim pick-up paid over larger peers ◆ Little impact from upcoming merger -
◆ Deal is TSB’s second in euros ◆ Minimal concession paid ◆ Bond offers single digit spread over UK peers
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Almost one in five euro benchmarks have been tightened by a double digit spread this year
