BNP Paribas

◆ 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 ◆

Market participants debate 300bp 'soft barrier' for AT1 resets as banks probe ever-improving cost of capital

◆ French bank issues its first euro AT1 in three years ◆ Deal lands flat to fair value, according to sources away ◆ UBS prepares its second Australian dollar AT1 after September's market reopener

Banks welcome UK’s relaxed prospectus rules as IPO pipeline swells

◆ Principality Building Society amasses £1.05bn order book ◆ 50bp was best-case target says banker on deal… ◆ …and investors welcomed new UK covered issuer

◆ Société Générale and BNP Paribas launch self-led deals ◆ Over €6.3bn of combined demand ◆ Spreads converge