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◆ Book grew after pricing tightened ◆ Issuer's first capital trade in two years ◆ Premium paid
◆ Order book grew steadily to close at its peak ◆ Second EuGB covered bond ever issued ◆ French lender's previous covered was in January
◆ German issuer opts for no-grow format ◆ Banker said early update helped ◆ Deal showed only minimal attrition
Data
Less frequent issuers making the most of market with strong bid for yieldy assets
Borrowers want to issue and spreads are tight, but execution windows are very unreliable
Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates
Funding across all parts of the capital structure is available with issuers likely to prioritise unsecured borrowing
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◆ Market conditions worsened in afternoon ◆ Deal priced flat to fair value with minimal attrition ◆ Bucks NIP trend from recent deals -
The deal grew from €350m after receiving strong demand
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The awards recognise the market's leading deals, issuers, banks and other participants
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◆ Venezuela embarks on historic debt restructuring ◆ Canada suggests covered bond boost ◆ European Secured Notes are here. Regulate them
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Investors seek structured and vanilla FRNs from credit and SSA issuers amid sharp rate fluctuations
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Returnee lands through fair value on currency diversification drive
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
Don't miss your chance to choose this year's Bond Award winners
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
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