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◆ Issuer captures strong opening to launch capital pre-funding ◆ Achieves tightest spread from Spanish bank in longest tenor ◆ But as market weakened the deal lost some steam
◆ Belfius pre-funding for 2026 ◆ RBI deal more than seven times subscribed ◆ Softness earlier in the week 'just a blip'
Banks tap Asia for diversification, while SSAs stay busy in euros and dollars
Market participants spot first signs that ever improving funding conditions may be over
ESG deals show there is more to labels than just saving on spread
Issuers' desire to put covered pre-funding to one side suggests concerns over bumps ahead
The next leg of the spread convergence between eurozone periphery and core FIG issuers could come from the east or south
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Standard Chartered raised $1bn AT1 with none to call next year -
◆ Its first sub-€1bn tier two in four years ◆ First French euro bank capital sale since prime minister's resignation ◆ Mixed views on new issue concession
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◆ US bank offers its second €4.5bn triple trancher this year ◆ Follows BofA's big deal in October, but pays premium ◆ US bank euro funding rockets to multi-year high
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◆ DKB returns to senior funding after four year absence ◆ First German bank to use EuGB Standard ◆ Íslandsbanki goes for duration play
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Shares fell and bonds widened without any announcements from the bank
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◆ Eight year spread set at same level to five year debut ◆ Book just about covered, leads left holding paper ◆ Some concession needed in a tricky market
Polls and awards
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
The winning deals and organisations will be revealed at our gala dinner in Seville on September 18
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