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Four out of the six major money center banks boost new year issuance volume at tight spreads
◆ La Banque Postale increased size during execution ◆ French bank’s first covered since October 2024 ◆ French bond was only covered bond priced on Friday
◆ Largest book of the week for a euro tier two ◆ Priced flat to fair value ◆ 'Sensible' pricing, rival banker says
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Classic January new issue volumes as barely there premiums come into vogue but US banks threaten to crowd out Europeans
Avoiding unsecured euro issuance, French banks have concentrated funding in dollars and covered bonds as they eye record start
Unsecured bonds could become more expensive to issue, covered bonds cheaper
Vagueness over the future of AT1s pushes market rethink, though implementation is unlikely to come soon
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Corporate flow picks up with first foreign trade offering attractive yield -
Market participants doubt primary market can maintain its rapid pace
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◆ Italian bank increased benchmark size to €750m ◆ Deal expected to perform in secondary ◆ Covered was one of two issued on Thursday
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◆ Fourth French bank to print senior bond in euros this week ◆ Tenor becomes more popular as deal garners largest book among compatriots ◆ Priced flat to fair value but with pick-up to core Europe
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◆ Six year bond trades lower in secondary market ◆ Deal a first for Slovakia, says banker ◆ MPS closes its first covered of 2026
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Front end floaters fly for auto names in private placement format
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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